Class action

Definition:

A legal complaint filed by a lawyer or group of lawyers for a group of petitioners with an identical grievance, often with an award proportionate to the number of shareholders involved.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Beneficiary

Term used to refer to the person who receives the benefits of a trust or the recipient of the proceeds of a life insurance policy.

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