Class Action

I've just found out I'm involved in a class action.This only came to light when I received an offer to "opt-out" from the organizing lawyers, a big player in class actions in Australia.

It seems I have a couple of options.

I can remain in the class action and incur no costs even if the proceedings are unsuccessful. If the matter is settled, the court will rule on a penalty and/or compensation.

I could opt-out.  This would be suitable if, for example, I regarded the action as a cynical, money-grubbing waste of the court's time.

If I remain as a plaintiff and the case is not settled, I will need to prove individual loss and damage, which may require me to have legal representation and risk the costs being in excess of the potential settlement.

 The organising lawyers have offered to represent me, by entering into a fee arrangement with them. I guess it will be a no-win, no-fee number.

Alternatively, I can organise my own representation, risking a loss and potentially incurring higher costs if the court needs to assess loss on an individual basis.

I know who the winners are going to be in this little legal merry-go -round.