Al and ben were clients of big brokerage firm (bbf). they suffered financial losses because of fraudulent securities dealings by bbf. many other clients were victims as well, with losses that varied depending on the size of the accounts and the dates of certain trades. al and ben filed suit against bbf on their own behalf and on behalf of the other clients who suffered losses. this suit is an example of a (n)_____________________suit

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11-09-2017
Business

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Al and ben were clients of big brokerage firm (bbf). they suffered financial losses because of fraudulent securities dealings by bbf. many other clients were victims as well, with losses that varied depending on the size of the accounts and the dates of certain trades. al and ben filed suit against bbf on their own behalf and on behalf of the other clients who suffered losses. this suit is an example of a (n)_____________________suit

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W0lf93 W0lf93 · Answer 1 · 2017-09-23T13:51:35+02:00

The suit filed by Al and Ben on behalf of themselves and other plaintiffs is an example of a "class action lawsuit" or "class suit". Class action suits typically consist of a large number of people who have been wronged or somehow damaged by the defendant (usually more than 50 people) and all parties are not required to be specifically named. A benefit to this type of suit is that it avoids multiple trials for the same inflicted damages.