Many Consumers Entitled to Class-Action Lawsuit Cash

SAN FRANCISCO (CBS SF) -- From misleading advertising claims to exposing their customers to identity theft, companies pay tens of millions of dollars each year to settle class action lawsuits aimed at addressing ways they may have wronged their customers.

Despite this, relatively few consumers ever claim their share of the awards being offered.

"I think consumers would be very surprised at just how many class action lawsuits they are a part of," said Joe Ridout of the organization Consumer Action. He says hundreds of suits are filed each year and dozens are settled.

"In very few cases does it reach a tenth of the people who are eligible," explained Ridout.

So, his organization has compiled the searchable Consumer Action Class Action Lawsuit Database that helps consumers check.

Current payouts range from 50 cents for Californians who bought a breakfast sandwich at Starbucks between April and August of 2015 to thousands of dollars for those compromised by the 2014 Home Depot data breach.

Some require proof of purchase or other documentation, but some do not.

"Even for some of these very large amounts, it's not necessarily a high burden of proof," Ridout said.

KPIX 5 legal analyst Melissa Caen points out, it's the lawyers who take home the biggest cut. But she says the threat of a law suit does help to keep companies honest.

"The biggest benefit to consumers is that the threat of the lawsuit," said Caen.

Leftover funds are distributed to consumer organizations like Ridout's, though he'd prefer you get your cut.

"We want to get the word out before it's too late," said Ridout.

But beware:  applying for a share of settlement you don't deserve is considered fraud.

If you want to check the Consumer Action Class Action Lawsuit Database yourself, click here.