How Antitrust Class Actions Will Impact Your Fiduciary Responsibilities
By Allison Gosman, Senior Marketing Specialist, Financial Recovery Technologies
By now, most institutional investors have concluded their fiduciary duty requires filing proof of claim forms in U.S. securities class action settlements. However, many have not yet implemented similar claims filing protocols for U.S. antitrust and non-U.S./Canada securities matters.
In the U.S., there are currently more than 50 active cases in various stages of litigation. For just nine antitrust matters, there’s currently $3.7+ billion in escrow awaiting administration and distribution. While not all antitrust cases receive significant publicity, there is a large pool of opportunities across the globe from which investors can attempt to recover their losses.
Download FRT’s report Fiduciary Responsibility For Worldwide Claims Filing to gain insight into why fiduciaries must take steps now to ensure their funds do not miss recovery dollars for lack of submitted paperwork.
| CASE | SETTLEMENT AMOUNTS | FILING DEADLIINE | TYPE |
|---|---|---|---|
| Euroyen Based Derivatives | $236m | February 20, 2018 - excluding Mitsubishi (extension from January 24, 2017) | Blank |
| FOREX | $2.3b | March 22, 2018 (extended to May 16, 2018) | Constructed |
| LIBOR | $460M | December 21, 2017 - March 29, 2018 | Blank |
| ISDAfix | $408m | July 16, 2018 | Blank |
| Euribor | $139m | August 1, 2018 | TBD |
| Silver Fixing | $38m | TBD | TBD |
| Gold Fixing | $60m | TBD | TBD |
| FX Canada | $39.2m | TBD | TBD |
| BARX/Last Look | $50m | Past - July 7, 2017 | Constructed |
| TOTAL | $3.7b |
Related Information
- FX Case Update (February 2018): The FOREX Antitrust Deadline Is Approaching – Are You Confident You Have Received All Your Claim Notices?
- Euroyen Case Update (February 2018): Bank of Tokyo-Mitsubishi UFJ Ltd. and Mitsubishi UFJ Trust and Banking Corp Reaches Settlement in the Euroyen Case > $30 million
- Three takeaways from the February 6 decision regarding the Petrobras ($3B) deal
Learn More
To learn more about how FRT can help your firm maximize recoveries in non-securities class action settlements, contact your FRT representative or email us 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 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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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.