Customer Service Success: FRT Identifies Claims Administrator Error – Rejected Claim to Yield Recovery

FRT Admin
Site administrator
May 29, 2014

After submitting a claim on behalf of a client for a case against SunPower Corp., FRT received a rejection letter from the claims administrator stating the submission had no recognized loss. After being prompted by our claim filing system as to a discrepancy between our loss calculation and the administrator’s rejection, one of FRT’s Operations Associates verified the client’s claim should hold value. The Operations Associate brought this to the attention of our Senior Operations Manager who began researching the case, the plan of allocation and our client’s specific claim. FRT’s analysis confirmed our original recognized loss calculation of $276,067.50, which prompted our Operations Associate to reach out to the administrator to challenge its assertion. After the administrator analyzed the claim, they conceded the error and the claim is now in good standing.

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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.

 

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