When a member of a class chooses to exclude themselves from the class and pursue an individual legal action, this is referred to as opting out. Opt out litigants have full control over their cases, have the decision-making power to accept or reject settlement offers, and can actively communicate with their attorneys to ensure their interests are adequately represented. Opt out litigants may have the opportunity to file claims under state law and may also be eligible to pursue additional federal legal claims that are not available to the entire class. According to the information provided, class actions typically result in settlements that are only 2-3% of the losses suffered by investors. Conversely, opt out cases have consistently settled for amounts ranging between 30% and 80% of the plaintiff’s damages.
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