Oil and gas: Oilfield class actions
The use of class actions is getting alot of attention in the oilfield. Plaintiffs have filed class actions challenging two of the most rooted industry practices, oil posted prices and deregulated natural gas affiliate deduction and charges. The classes will include tens or hundreds of thousands of plaintiffs and may transform two of the industry`s most settled practices. The emotions surrounding the class action risk obscuring the fact that it is an old and oft-used tool in oilfield litigation. The class action {open_quotes}provides a means by which, where a large group of persons are interested in a matter, one or more may sue or be sued as representatives of the class without needing to join every member of the class.{close_quotes} The procedure avoids waste by combining scattered disputes, even if some injured might sue individually, and it enables plaintiffs who could not afford to sue to be represented anyway. The lawyers draw their fees from any recovery. Almost all oilpatch class actions are brought to resolve a {open_quotes}common question{close_quotes} under Federal Rules of Civil Procedure 23(b)(3) or state counterparts. The rule`s {open_quotes}opt-out{close_quotes} provisions give class actions a tremendous boost because members stay in unless they take steps to get out. This article discusses present and future class actions.
- OSTI ID:
- 478391
- Journal Information:
- Natural Resources and Environment, Vol. 11, Issue 3; Other Information: PBD: Win 1997
- Country of Publication:
- United States
- Language:
- English
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