Class Action Reform Bill Introduced in Senate

<b></b>

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
1 min read
Opinions expressed by Entrepreneur contributors are their own.

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 (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 . 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

More from Entrepreneur

We created the SYOB course to help you get started on your entrepreneurial journey. You can now sign up for just $99, plus receive a 7-day free trial. Just use promo code SYOB99 to claim your offer.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur