FX FAQ: When is the claims administration process likely to begin?

Jenn Rothenberg
May 9, 2017

On December 20, 2016, the U.S. District Court for the Southern District of New York issued an order approving the notice, claim form, and plan of distribution in the Foreign Exchange Benchmark Rates Antitrust Litigation (also referred to as “FX” or “Forex”).

These documents have not yet been distributed to eligible class members, though we had anticipated that they would be this month. However, this month, the claims administrator provided the following update:

“Plaintiffs continue to engage in confidential settlement discussion and data collection and propose to update the Court by filing a status report on or before June 1, 2017, on which date Plaintiffs anticipate providing the Court with a proposed timeline for notice.”

Case Timeline / Deadlines

  • On January 27, 2017, class counsel requested an extension of time until May 2017 to send notices, which the court granted with the condition that class counsel provide periodic updates on their progress toward dissemination.
  • On May 1, class counsel provided a brief update and notified the Court that they would file a status report on or before June 1, 2017.

We are monitoring the docket for any further updates on this timeline, and will notify if there are additional changes to it.

 

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In short, we have you covered to manage this exceedingly complex case from beginning to end. Contact your FRT representative or email us at info@frtservices.com to learn more.

 

RELATED MATERIALS     

For more information on this case or other securities, global, and antitrust class action litigations, please contact Financial Recovery Technologies at learnmore@frtservices.com.

 

About FRT

U.S. CLAIMS  I  GLOBAL GROUP LITIGATION  I  ANTITRUST  I  LITIGATION MONITORING  I  BUYOUTS

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.

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.

ABOUT FINANCIAL RECOVERY TECHNOLOGIES
SETTLED  I  NON-US GLOBAL OPT-IN  I  ANTITRUST  I  GLOBAL PASSIVE  I  DIRECT OPT-OUT  I  BUYOUTS

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.