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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Class action  

Definition 1.

A legal complaint filed by a lawyer or group of lawyers for a group of petitioners with an identical grievance, often with an award proportionate to the number of shareholders involved.
 

Definition 2.

An action where an individual represents a group in a court claim. The judgment from the suit is for all the members of the group (class).
 
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