Financial Recovery Technologies Fast Five provides you with the top news in shareholder class actions. Stay up-to-date on the latest developments in settled (U.S./Canada) claims filing opportunities, Antitrust settlements, Global Group Litigation matters and more. For more information, contact your Financial Recovery Technologies representative or email us.
The institutional investors leading a sprawling multidistrict litigation against 11 megabanks that allegedly colluded to control the interest rate swaps market asked a New York federal judge on Thursday to certify a class of investors who did swaps deals with the banks over the last six years. The certification bid, which requests the appointment of Quinn Emanuel Urquhart & Sullivan LLP and Cohen Milstein Sellers & Toll PLLC as class counsel, says evidence obtained during discovery thus far firmly supports allegations that the banks conspired to block startup trading platforms from entering the market. Click here to read the full article (subscription may be required).
A once-promising securities class action against Best Buy came to a whimpering end on Friday, when U. S. District Judge Donovan Frank of St. Paul, Minnesota, granted summary judgment to the electronics chain, which had been accused of misrepresenting its projected earnings in a conference call with analysts way back in 2010. Click here to read the full article.
On 24 January 2019, the Australian Law Reform Commission issued a report entitled Integrity, Fairness and Efficiency – an Inquiry into Class Actions Proceedings and Third-Party Litigation Funders. The ALRC report sets out a comprehensive analysis of the current Australian class actions framework and makes 24 recommendations in relation to the regulation of class action proceedings and funding arrangements. Click here to read the full article.
Litigation funding, the third-party financing of legal costs in disputes, is increasingly common in the UK. The UK litigation funding landscape has begun to resemble the US, where external parties commonly finance a wide range of claims in return for a share of any ultimate litigation win. In Latham & Watkins’ view, PE firms should consider litigation funding as a growth sector — and as a valuable tool for de-risking portfolio company claims. Click here to read the full article.
The United States District Court of the District of Connecticut will soon decide whether a putative class member may intervene “for the limited purpose of tolling the statute of repose.” Statutes of repose place an outer limit on when a claim can be brought. How the Court rules on the motion will not only affect putative members in the Teva class action, but also putative members in other federal securities class actions. A decision granting CalSTRS’s motion will benefit purported class members who face the expiration of a statute of repose—saving the time and money associated with filing individual actions or proposed complaints attached to motions to intervene. Such a decision may, however, burden courts with a potential influx of last minute intervenors. Should CalSTRS’s motion be denied, the Court’s reasoning will be important for large shareholders to understand how to best protect potential claims. Click here to read the full article.
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- FX Case Update (March 2019): Memo filed in support of motion for initial distribution
- Case Spotlight: FX Canada
- A look back at Antitrust Litigation in 2018
- Three Non-U.S. Passive Participation Opportunities to Keep on Your Radar
- EU Proposal May Move European Jurisdiction Risk Profiles Closer to the U.S.
- Securities Class Action Cases: Quarterly Disbursed Claims – Q4-2018
- Unique Data in Complex J.P. Morgan ADR Case Presents Filing Challenges
- FRT Insights – Quarterly Newsletter: January 2019
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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.