What is a class period
The “class period” is the specific time period during which the defendant’s alleged wrongdoing in the class action lawsuit took place. This is the misconduct that caused the injury for which the defendant is being sued. 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 the class period will be eligible to participate in the class action lawsuit. Although the initial fillings typically identify a class period, counsel can make adjustments to this time frame as additional facts warrant.