NU Online News Service, Feb. 6, 3:11 p.m. — Washington
The fight to enact class-action legal reform, a top insurance industry legislative objective, resumed yesterday with the introduction of a bipartisan bill that would have major class-action lawsuits heard in federal, rather than state, courts.
The bill, the Class Action Fairness Act of 2003, was introduced by Sens. Chuck Grassley, R-Iowa, Herb Kohl, D-Wisc., and Orrin Hatch, R-Utah, the chairman of the Senate Judiciary Committee.
The bill number was not available at press time.
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Grassley says the bill is necessary to help people understand their rights in class-action lawsuits and protect them from unfair settlements.
“The class-action system is full of problems,” Grassley says. “We need to protect the rights of consumers and not allow attorneys to gain huge fees when their clients are left with little.”