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There's someone named Tanaka in my class too.
Literal
I [of-の] class [in-に-も] Tanaka [quotative-という] name [of-の] person [subject-が] exist.
The pattern [name]+という+名前の+[person-noun] is the standard way to introduce 'a [person] named [name]' — という is the quotative complementizer marking 'called [X].' The に+も ('in [location] also') adds 'too, as well,' implying other classes also have a Tanaka.