Securities Class Action Cases: Quarterly Disbursed Claims – Q4-2018

In Q4-2018, over $2.3 billion of settlement funds were distributed, across 34 settlements. A near 200% increase from Q3-2018. For more information, contact your Financial Recovery Technologies representative or email us.

Top 5 Recently Settled Cases in Q4-2018 (in terms of settlement fund value)

  • Cobalt International Energy, Inc. ($389.6m)
  • Bank of America Mortgage Obligations Distribution ($109m)
  • BHP Billiton PLC ($50m)
  • Intuitive Surgical, Inc. ($42.5m)
  • Poseidon Concepts Corporation ($34.6)

Top 5 Disbursed Cases in Q4-2018 (in terms of settlement fund value)

  • Merck & Company ($830m)
  • Goldman Sachs & Company ($272m)
  • MF Global Holdings Limited ($204m)
  • Elan Corporation Plc ($135m)
  • Tesco PLC Compensation Scheme – KPMG ($118.6m)

Q4-2018 Disbursed Cases

Disbursement DateCase NameClaim DeadlineSettlement Fund
12/19/2018PLY GEM HOLDINGS, INC.06/29/2018$25,950,000.00
12/17/2018TERRAFORM PROWER, INC.01/05/2018$14,750,000.00
12/14/2018AMICUS THERAPEUTICS, INC.01/01/2018$3,750,000.00
12/10/2018MF GLOBAL HOLDINGS LIMITED12/03/2015$204,432,828.00
12/06/02018LIPOCINE INC. 06/11/2018$4,250,000.00
11/27/2018SMART TECHNOLOGIES, INC. 10/04/2013$15,250.000.00
11/20/2018CVB FINANCIAL CORPORATION04/18/2017$6,200,000.00
11/20/2018TANGOE, INC.02/22/2018$2,550,000.00
11/20/2018HOME LOAN SERVICING SOLUTIONS, LTD. 10./31/2017$6,000,000.00
11/20/2018OPPENHEIMER ROCHESTER FUNDS GROUP02/28/2018$50,750,000.00
11/12/2018TESCO PLC COMPENSATION SCHEME02/22/2018$118,655,100.00
11/09/2018OSI SYSTEMS, INC. 01/15/2016$15,000,000.00
11/08/2018BARX07/07/2017$50,000,000.00
11/02/2018CHC GROUP LIMITED11/02/2017$3,850,000.00
11/02/2018SINO FOREST CORPORATION02/14/2014$65,000,000.00
11/02/2018AVON PRODUCTS, INC.01/19/2016$62,000,000.00
10/31/2018GOLDMAN SACHS & COMPANY05/13/2016$272,000,000.00
10/31/2018MERCK & COMPANY09/12/2016$830,000,000.00
10/31/2018ASSISTED LIVING CONCEPTS, INC.02/06/2014$12,000,000.00
10/31/2018ELAN CORPORATION PLC05/29/2017$135,000,000.00
10/26/2018DOLE FOOD COMPANY, INC.08/09/2017$74,000,000.00
10/26/2018NU SKIN ENTERPRISES, INC.10/06/2015$47,000,000.00
10/25/2018PENN WEST PETROLEUM LIMITED08/26/2016$19,759,282.00
10/25/2018EZCORP, INC.05/19/2017$5,900,000.00
10/24/2018MARVELL TECHNOLOGY GROUP LIMITED05/07/2018$72,500,000.00
10/23/2018MONTAGE TECHNOLOGY GROUP11/20/2017$7,250,000.00
10/23/2018WYETH09/12/2016$10,000,000.00
10/23/2018ALTISOURCE PORTFOLIO SOLUTIONS S.A.07/11/2017$32,000,000.00
10/19/2018WORLD ACCEPTANCE CORPORATION01/17/2018$16,000,000.00
10/12/2018RENTRAK CORPORATION09/19/2017$19,000,000.00
10/11/2018IDREAMSKY TECHNOLOGY LIMITED03/20/2018$4,150,000.00
10/03/2018CREDIT SUISSE BULK SETTLEMENT PRACTICE FAIR FUND11/15/2016$101,747,769.00

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.

Euribor Case Update: Two Additional Defendants File for Preliminary Settlement of $182.5 million

On Wednesday, November 21, 2018, Plaintiffs filed a proposed preliminary settlement for $182.5 million addressing Citigroup Inc. and J.P. Morgan’s alleged manipulation of the European Interbank Offered Rate (Euribor), with the court.

These two defendants join the three other defendant banks who had previously settled with affected investors (read our case spotlight) bringing the settlement pool to $491.5 million.

  • Deutsche Bank AG $170,000,000
  • Barclays Plc $94,000,000
  • HSBC Holdings Plc $$45,000,000

FRT has already filed over 29,000 claims for the Euribor settlement ($309 million). Class counsel has not announced a claims filing date and nearly a dozen defendants remain in litigation.

FRT will continue to monitor this matter for key dates that impact this Antitrust case.

Learn More

For more details including case background, timing and how to file for this case or FRT Antitrust service, please contact your FRT representative or email us at learnmore@frtservices.com.

About FRT

U.S. CLAIMS  I  GLOBAL  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.

Follow us on Twitter: @FRTServices

Follow us on LinkedIn: Financial Recovery Technologies

Email us: learnmore@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.

A Note of Gratitude: FRT Is Thankful for You

Thanksgiving is a time to reflect on the past year and what we are grateful for. At Financial Recovery Technologies (“FRT”), one of the first things that come to mind is You.

Whether you are a client, employee, partner or any of the like, you continue to make an impact on FRT from getting us to where we are today and to where we hope to be in the future. Ten years ago, FRT was born with the idea that through technology and focus we could build a better mousetrap. Over the last ten years, that’s exactly what we’ve done. With over 80 employees and an incredible roster of 700+ clients, FRT has grown from a hungry upstart to the leading shareholder class action monitoring and recovery provider.

As previously mentioned, within the FinTech industry, we see numerous growth opportunities and we believe that successful innovation comes from applying purpose-built technology to a specific problem or challenge; in our case, the area of shareholder litigation monitoring and claims recovery.

Our CEO, Rob Adler, says, “Key to the success of every service provider is having a team of individuals capable of thriving, not merely surviving, in this highly competitive environment.” 

If you look at our Company Page, you will see that our values – some tangible, some aspirational – are core to who we are and why we succeed.

  • We over me – “For a long time, she was handling the job of multiple people while the team grew. She has really stepped up to take on a bigger role, both in terms of managing people as well as becoming more of a leader at FRT.”
  • Curiosity over complacency – “He works for the betterment of the team and developed new ways to do the same task in an innovative way.”
  • Initiative over assignment – “She is curious and capable of diving into a new process with little to no knowledge and assistance and self-teaches herself new things. She even produced enhanced reconciliations and efficient reporting! She clearly demonstrated the type of employee that belongs at FRT.”
  • Adaptability over rigidity – “He volunteered to work with me on a data ingest project at the 11th hour. Although he already had his own workload, he was able to get the data I needed and we worked together to think through how and why we needed it to deliver the most accurate and applicable results.”
  • Results over effort – “Because we focused on the features / functionality that mattered to clients, we were able to achieve the result of making our clients’ lives easier with less time (under six months of development) and cost than originally expected.”

Each of these values sits on a foundation of openness and respect – to new ideas, to feedback, to change – which allows us to grow together to achieve our goals. In 2018 YTD, we have generated a record amount of gross recovery dollars for our clients and have processed large volumes of claims filings for antitrust (non-securities) cases.

One employee recently stated, “This deal touched every corner of FRT and each person who contributed helped to bring it to fruition.” While our personal interests and backgrounds are diverse, we share a common desire to service FRT’s clients at the highest level.

As the industry has evolved, so has FRT. We’ve experienced over 50% growth for the past three years and are continuing to invest in our people, our services, and our technology to provide best-in-class shareholder class action governance, monitoring and recovery services to meet client needs better.

Learn More

To learn more about how FRT can help your firm maximize recoveries in shareholder class action settlements, contact 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.

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.