|Class action lawsuits, including
securities class action lawsuits, are a large and
growing source of unclaimed funds. Each year
hundreds of companies are involved in class action
Class actions fall into a number of broad categories including: Securities Fraud (insider trading and mismanagement); Consumer Protection (fraudulent marketing); Product Liability (defective products); Antitrust (unfair business practices and price fixing); Human Rights (unfair practices and discrimination); Environment (pollution) and Public Health (tobacco). Recent class action settlements have exceeded $10 billion ($5 billion last year alone), yet more than half of those entitled to payment fail to file a claim.
Current and former customers and stockholders in over 2000 companies are entitled to receive unclaimed class action settlement payments. Legal notice of class action claims eligibility is often buried deep in newspaper classifieds. If you've moved, physically hold stock certificates, or hold stock in street name and switch brokers, you may not be notified.
Even if a product was used used ago or stock has long since been sold, class members may be eligible to receive cash, credits, shares or distributions in companies like AOL, AT&T, Ford, GM, Dow Corning, Coca Cola, NASDAQ, Publishers Clearing House, Bank of America, MCI, Merrill Lynch, Schwab, Wal-Mart and hundreds of others.