What do customers get when big companies do them wrong? Sometimes a lot of money. When businesses make false claims about their product, violate customer privacy, or even when they experience a data breach, the result is often a class action lawsuit—meaning that many customers come together to sue the company. A few key plaintiffs represent the whole “class” so that thousands of people who were impacted by the bad business practices don’t have to go to court.
Typically, the company defending its products or practices doesn’t admit guilt but does agree to a settlement. That settlement can take many forms, including in some cases, coupons toward future purchases. But in many cases, you are rewarded with a check.
But you can’t get that cash unless you know what class action settlements are available, and whether you were impacted by the case. One website that compiles information for current settlement opportunities is TopClassActions.com. You can also usually learn about class action settlements during your local news station’s “consumer corner” segment.
Not every settlement opportunity will apply to you, but you’d be surprised at the number you’re eligible to claim. You give up your right to sue the company in the future if you file a class action settlement claim, but the odds of you taking up a case against a major corporation were probably slim to begin with.