Legal Question in Business Law in California
SOL on Settlements in a Class action
I wanted to know how long a corporation must comply with the terms of a settlement in a class action? For example, our corporation settled in a class action and we had to make some changes to our customer contracts, but there was no end date specified in the settlement terms. I am wondering when can we change our contract terms? Like decrease our limited liability clause back to $250 instead of the agreed upon $1000 in the settlement?
3 Answers from Attorneys
Re: SOL on Settlements in a Class action
It all depends on what the settlement agreement stipulates. Without reviewing the terms of the settlement, I don't think any attorney could give an opinion. You should contact the attorney that you used in that case. Otherwise, we would be happy to help you if you like.
Re: SOL on Settlements in a Class action
This is really a question that should be directed to the attorney that defended the corporate in the class action lawsuit. If this was a voluntary settlement, there was probably a negotiated settlement that was approved by the Court. If the settlement or the court order approved the settlement doesn't specify any type of sunset clause, you may need to bring a motion before the court for instructions on how you wish to proceed. A court-ordered settlement might not necessarily have an expiration date.
Re: SOL on Settlements in a Class action
Contact the attorney that handled the case to start with. If he is no longer available, or you don't want to use him, then you need to spend the time to actually consult with experienced counsel to review the facts, pleadings, court orders, etc. A quick, free, 'wrong' answer could get you in serious trouble by creating a violation of a court order. Contact me if interested in doing this right.
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