Every year, billions of dollars in settlement funds are distributed to eligible shareholders as a result of shareholder class action lawsuits. A wide range of institutional investors from hedge funds, investment managers, and mutual funds to corporate and public pensions, regional banks and global custodians use our comprehensive range of services to identify eligibility, file claims and collect funds made available in shareholder class action settlements and litigations.
With nearly 700 clients, Financial Recovery Technologies filed over 200,000 claims for more than 40 settled cases in the first half of 2018. We saw a strong pipeline of antitrust matters (tracking 50+ cases) and increased interest from investors in participating in global actions (13 active jurisdictions) in the first half of 2018 as fiduciaries have begun to view considering these cases an as an obligation to their clients.
We expect to see continued momentum in the second half of the year as claims bearing on the investment activity and operations of global institutional investors arise and look forward to supporting our clients throughout the claims filing and recovery process.
Top Three Shareholder Class Action Highlights from 1H18
1. Forex Antitrust Litigation ($2.3 billion)
In the Q2 of 2018, investors’ attention focused on preparing and filing for the Forex Antitrust Litigation – one of the largest ($2.3 billion) and most complex antitrust settlements and claims filing recovery opportunities to date. FRT filed over 40,000 claims for nearly 250 clients.
2. ISDAfix Antitrust Litigation ($504.5 million)
Much like the FOREX matter, the complexities of the ISDAfix case presented many challenges. As pioneers in Antitrust recovery, FRT’S repeatable, controlled workflows designed especially for the purpose of handling unique antitrust cases allowed us to file over 25,000 claims for over 180 clients.
3. U.S. Petrobras Class Action ($3 billion)
At $3 billion cash, the Petrobras scandal is the fifth largest securities class action settlement in U.S. history against non-U.S. issuers. Institutional investors pursued claims for losses not only in American Depository Receipts (ADRs) traded on the U.S. exchange, but also numerous U.S.-traded fixed income securities. FRT filed over 20,000 claims for almost 400 clients.
Due to the complexity involved in the class action settlement recovery process, outsourcing this function has become an option for turning this administrative burden into a competitive advantage.
To learn more about how FRT can help your firm maximize recoveries in shareholder class action settlements, contact us at firstname.lastname@example.org.
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.