What is an aggregate settlement in a class action lawsuit?

An aggregate settlement in a class action lawsuit is when a group of people affected by the same situation come together to seek compensation or justice. In a class action lawsuit, each person affected by a particular incident may join in a collective lawsuit and combine their resources as a group to be heard. In West Virginia, a class action lawsuit may be initiated when two or more persons are affected by the same action of a company or a particular incident. A class action lawsuit allows the individuals to join a collective claim, and one attorney will represent all of the class members in court. The aggregate settlement refers to the agreement or the financial compensation that resolves the class action lawsuit. This settlement is usually offered by the defendant, who is the party being sued, and is meant to compensate the class members collectively for their losses. The amount of the settlement is calculated on a per person basis, but instead of paying each person separately, a single payment is made to the class as a whole. The settlement amount is divided among the class members. Usually, after a settlement is approved, the court appoints an individual or a law firm to serve as a “settlement administrator” to review and distribute the funds of the aggregate settlement. This allows the settlement to be divided fairly between all of the class members in the lawsuit.

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What is an aggregate settlement in a class action lawsuit?

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