depositor class action

A depositor class action is a legal lawsuit brought by a group of depositors—such as customers of a bank or financial institution—who believe they have been harmed by the same wrongful behavior, like mismanagement or deceptive practices. Instead of each person suing separately, they join together in one case to hold the institution accountable. This helps efficiently resolve common claims, share legal costs, and potentially recover damages collectively. Essentially, it's a way for depositors to collaboratively seek justice for issues affecting all members of the group.