In a class action case, a class period is the specific time period the alleged injury was committed against the class by the defendant. For example, if a manufacturer sold defective products to consumers for two years, the two-year period is the class period.
Anyone who was harmed during the class period will be eligible to participate in the class action lawsuit. For example, in a securities class action suit, investors who bought or sold a company’s securities during a class period will be eligible to participate in the class action lawsuit launched by some of the harmed investors. Although the initial filling has to specify the class period, legal counsel can make the case to the judge that the initial class periods should be extended or shortened.