SB1440 Summary

• Restricts class action venue to counties where the defendant's principal office is located, the plurality of Illinois resident class members reside, or where the cause of action arose for the plurality of class members.

• Requires class actions to be certified only if the plurality of class members are Illinois residents or were physically in Illinois when the cause of action arose.

• Adds a superiority requirement stating class actions may only proceed if superior to other available methods for fair and efficient adjudication, considering factors like member interest in individual control, existing litigation, forum concentration, and management difficulties.

• Mandates individual notice to all class members who can be identified through reasonable effort, with notice including nature of action, class definition, claims, member rights to counsel and exclusion, and binding effect of judgment.

• Establishes judicial scrutiny requirements for coupon and noncash settlements, protection against net losses to class members, and attorney's fee awards based on written findings that fees are reasonable and commensurate with benefits conferred.