Class Action Suits
Corporations knowingly engage in consumer fraud because they think they can
get away with it.Corporations are only now beginning to realize that the
information sharing capacity of the Internet allows people to more quickly
and rapidly pool knowledge of this fraud. Class action suits will become
more common. Very importantly, the punitive measures should not hurt the
consumers by higher prices and outrageous attorney fees. The following process
uses the proposed
tort reform
.
To promote, first and foremost, fewer everyday problems so the cost of humanity decreases, class actions need be be prioritized and standardized by the consumers, not ambulance chasing attorneys. Corporations need to be held responsible in the pocketbook not by merely having their economists figure out how much to raise prices to pay the class action costs--inflation!
Toward the goal of ending this form of corporate fraud and counselor greed, the following steps will be initiated:
- Monthly brain bees will be held to initiate class action suits--see Personal Democracy
- Dollar whistleblowing will be used when usefull
- Upon the determination of the seven finalists, a second round of fact-finding brain bees will be held to collect information and leads as well as to maximize the number of class members--see Presidential Commission.
- A third round will be held to establish a committee of seven to represent the class members in negotiating with attorneys and accepting any settlement.
- A fourth round will be held requesting law firms to bid on handling the class action based on a percentage of the final judgment. With the bulk of the research being collected, filtered, percolated and honed by the class members, the cost of litigation should be quite less. The defendants will have the option of settling minus the attorney fees with the attorney receiving a 10% submission fee (of the bid, not the settlement).
Based on the author's knowledge and concern, certain class action suits need to be implemented when the membership of on-line brain bees have reached the critical mass of 5,000,000.
- Ford Motor Company and Bridgestone/Firestone: Any monies paid to settle Explorer tread separations must be recaptured by selling stocks on the open market until the funds are put back into the corporate treasury. Consumers should not pay for the settlements by higher prices for vehicles or tires.
- Pension Fund Shedding: Retroactive Decapitalism
Future Suit