Securities class actions often involve complex instruments that are not always easily identifiable. As part of FRT’s litigation and settlement research, our case-specialists review the securities associated with each action. FRT’s case-specialists then review all possible combinations of multiple security identifiers, like ticker symbol, security names, and others, from among our clients’ trade data to include every eligible transaction in a claim.

In the Amgen case, the class description included the company’s common stock plus two debt securities, each identified by their CUSIP. While researching the securities and reviewing client transaction data, FRT’s case-specialists identified two related securities with exactly the same description as the debt securities, but with different CUSIPs. These instruments turned out to be 144a Bond Securities, private placements for the same debt securities. FRT confirmed with the claims administrator for the Amgen case that these securities should be included in claim submissions.

Feeds from standard third party class action data providers did not include the security identifiers for these private placements, therefore it would be very easy to overlook them and exclude them from a claim filing. FRT’s industry expertise and effective controls enabled us to identify and include these obscure securities in our clients’ claims to ensure they recover every dollar to which they’re entitled.

About FRT

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Founded in 2008, Financial Recovery Technologies (FRT) is the 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.

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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.