FX Case Update (February 2018): The FOREX Antitrust Deadline Is Approaching – Are You Confident You Have Received All Your Claim Notices?

FRT Marketing
FRT Marketing
February 17, 2018

By Andrew Lasky, Legal Product Specialist, Financial Recovery Technologies (updated on March 13, 2018 with revised claims filing deadline per the claims administrator)

The Forex Antitrust claims filing deadline is approaching (was pushed from March 22, 2018 to May 16, 2018). As the date quickly approaches, institutions have become increasingly concerned with receiving claim notices for all their eligible accounts. As we mentioned previously, ensuring you’ve received notices for all affected accounts is critical, as each notice contains unique log-in credentials necessary to access the administration portal.

Some institutions are receiving hundreds, if not thousands, of claim notices for this large and complex case. The sheer volume can make it difficult for firms to be able to tell if they have received notices across all of their eligible accounts.

There are a number of reason why clients may not have received notices for certain accounts including if clients traded FOREX through a prime broker or investment manager, if the customer records from the settling defendants were inaccurate, or if notices were sent to the wrong party in their organization.

How can FRT Help?

FRT is working directly with the claims administrator on this case. For clients who may be unsure if they received all their notices, we can work with the administrator to locate all potentially eligible accounts, as well as each account’s unique log-in credentials. For many clients, this could mean the difference between filing for hundreds versus thousands of eligible accounts with the potential for millions in recovery. For one client, FRT was able to locate 1,900 eligible accounts with corresponding log-in credentials.

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Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

 

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.