Class Action Reform Bill Introduced in Senate
Washington DC-The Class Action Fairness Act of 2001 (S 1712) has been introduced in the U.S. Senate by Sen. Herb Kohl (D-WI) and mirrors a bill in the House of Representatives (see "Class Action Reform Boosted by Franchise Community"). Both are aimed at reforming class action procedures to assure fairer outcomes for class members and defendants, ensuring that attorneys don't receive a disproportionate amount of settlements at the expense of class members, and creating a system in which fair and predictable decisions are based on the rule of law. Franchised businesses are a high-risk target of class action lawsuits because of their brand names and a perception that they stand for "deep pockets," according to the International Franchise Association. -IFA Insider
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