The attorneys at Stoltmann Law Offices have substantial experience bringing class action claims including most recently, in Ginzkey v. National Securities Corporation, where we successfully settled a certified class action against a brokerage firm in connection with the sale of a private placement investment sold to firm clients. That total settlement was for in excess of $10 million in total value to the class, which included both cash and two years of commission-free financial advisory services for the class.
Class actions are not the only way to pursue claims against corporations in a group settling. More and more, corporations are using both class action waivers and binding arbitration clauses in their contracts with clients. In these circumstances, we bring group-arbitration claims, which are not class-actions technically, but rather are a group of plaintiffs similarly situated against the same defendant or defendants. Depending on the forum, bringing group claims is quite simple. In arbitration before FINRA, for example, there is a joinder rule which specifically allows for “group claims.” Some arbitration forums, like JAMS, do not specifically allow for this sort of consolidation, so in those circumstances, we simply give the corporations what they want: we will file dozens of individual claims under forum consumer rules, which require them to pay the arbitrators for their time. This can be a massive expense and lead to positive outcomes for our clients.
Class or group representation requires an experienced and unique skill set. The attorneys at Stoltmann Law Offices have been prosecuting class actions and group arbitration claims for their clients since 2005.