What is a Class Action? Part 2
This is Part Two Class Action. I just wanted to tell you how the money is distributed.
Basically, if a common fund is gathered together, let's say it's $100 million, and there are 100 million people that have been injured, then it's pretty easy to say we've got enough to distribute a dollar per person.
But in a situation where there are different types of injuries, one lump sum, what usually happens is you have a special master, or a retired judge, that's appointed to oversee the entire settlement and a grid pattern is worked out with things like; how much money did the person have to spend on their medical care, how old were they when they were injured, how much disability, so they have for the rest of their life and other quantifiable variables.
The special master would apply each person's injury to the grid, come up with a number and distribute that money to the injured person, all of which is usually overseen by an active judge on the case.
Chris Parks. I’m in Boulder. If you have any more questions about class actions, give me a call.