Case Study: Hedge Fund Benefits from FRT’s 3rd Party Partner to Quickly Onboard their Data

HEDGE FUND BENEFITS FROM FRT 3rd PARTY COMMERCIAL PARTNER TO QUICKLY ONBOARD THEIR DATA & AUTOMATE THEIR DATA PROCESS

Audit reveals over $3.5m in missed recovery opportunities due to data gaps by previous 3rd party provider.

Prior Filing Strategy: Client used 3rdparty as their class action provider. The client would rarely hear from their service provider (rarely proactive) and any question they sent would take weeks to be addressed.

Client’s Objective: Streamline their data acquisition process and benefit from proactive client support.

  • Reduce the operational burden on their team of gathering necessary data as part of an inefficient process with their current provider

Analysis of Client’s Previous Process with a Competitor

  • Their previous provider only asked for quarterly positions instead of case-specific transactions. Because of the data gaps, our audit showed that may have caused ~$3.5mm in missed recoveries.
  • FRT leveraged the data feed with the client’s fund administrator in order to streamline the data acquisition process and allow the client to get away from having to provide any internal data.

FRT Success:

  • Data Integration reducing operational burden: Client benefits from 3rd party data integration allowing to expedite the onboarding.
  • Proactive Client Support: FRT’s 140+ employees all solely focused on securities class actions recoveries with 80% dedicated to Legal & Research, Client Service and Operations.
  • Unbiased legal expertise: In addition to local support, Client benefits from proprietary insight that FRT’s Legal & Research team provides including detailed querying memos, preliminary alerts and an industry-leading client portal.

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