Christopher Shays: “I rise in support of S. 5, the Class Action Fairness Act. This legislation will work to balance class actions.…”

“I rise in support of S. 5, the Class Action Fairness Act. This legislation will work to balance class actions. Currently, plaintiffs' lawyers take advantage of the system by bringing large, national lawsuits in specific jurisdictions with relaxed certification criteria. Attorneys are increasingly filing interstate class actions in State courts, mostly in what are known as ``magnet'' jurisdictions. Courts in these jurisdictions are attractive to lawyers because they routinely approve settlements in which attorneys receive large fees and the class members receive virtually nothing, and they also decide the claims of other state's citizens under the court's state law. This results in more and more class actions being losing propositions for everyone involved--except for the lawyers who brought them. The Class Action Fairness Act works to improve our legal system by allowing larger interstate class action cases to be heard in Federal courts, closing the magnet jurisdiction loophole. This bill will also make it easier for local businesses to avoid harassment. Currently, plaintiffs' lawyers can name a local business in a nationwide liability suit to stay out of Federal court. This legislation will put an end to this unfair practice. Finally, S. 5 protects consumers with a consumer class action bill of rights.”