BOSTON, MA, April 24, 2018 – Financial Recovery Technologies (“FRT”) and Eagle Investment Systems LLC, a BNY Mellon company and leading provider of financial services technology, have established a strategic alliance to offer Eagle clients FRT’s industry-leading securities class action recovery services.
FRT’s service will now be made available to Eagle clients to help mitigate risk, enhance reporting and facilitate the effective identification, filing and recovery of securities class action settlements on behalf of clients.
A rising number of securities class action lawsuits outside of the U.S.—more than 40 across nine non-US jurisdictions since 2016—coupled with growing litigation complexity resulting from multiple actions from multiple litigation organizers, such as with the recent Volkswagen class action, are increasingly challenging the ability of institutional investors to navigate these class action waters effectively.
“As securities class actions become more complex, providing the data to support these sophisticated capabilities is crucial to our clients,” said Joel Kornblum, Head of Strategic Alliances at Eagle Investment Systems. “This new relationship reflects our commitment to providing clients with best-in-class options to satisfy their financial objectives and due diligence standards to deliver the best possible service to their end-customers.”
“Eagle shares our philosophy that today’s financial institutions need to rely on innovation to automate complicated functions and get back to what they do best – deliver results to their clients,” said Rob Adler, Chief Executive Officer of FRT. “We’ve spent the last decade partnering with our clients to understand every intricacy of their responsibilities, and are excited to work with Eagle to help its clients adapt to this new frontier of securities class actions.”
About Financial Recovery Technologies
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. Financial Recovery Technologies is a Cross Country Group company (www.ccgroup.com). For more information, go to www.frtservices.com or follow us on Twitter @FRTservices.
Eagle is committed to helping financial institutions worldwide grow assets efficiently with its award-winning portfolio management suite of enterprise data management, investment accounting and performance measurement solutions that are delivered over its secure private cloud, Eagle ACCESSSM. Eagle deploys trusted solutions and services that create operational efficiencies and help reduce complexity and risk. Eagle Investment Systems LLC is a subsidiary of BNY Mellon. Additional information is available at www.eagleinvsys.com or follow us on Twitter @eagleinvsys.
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