Question

Settlement payment from carnell smith and lenox magee v. fifth third bank class action settlement

Answer 1

In the case of Smith v Fifth Third Bank, regarding the class action lawsuit settlement reached by the parties involved, we can confirm the settlement payment is that of 5.2 million dollars.

The case of Smith v Fifth Third Bank was a class action lawsuit. A class-action suit is one in which the lawsuit is a collection of suits filed by many parties, which are tried as a single case, and the parties in question are represented by one member or group of members.

In the case mentioned the lawsuit resulted in a settlement. This is when the party being sued agrees to a payout in return for the charges being dropped. It is said that the Bank in question created a settlement fund to pay the members involved, which held a total of 5.2 million dollars to be paid to the victims.

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