Employee Spotlight: Shyanika Benimadhu

Shyanika Benimadhu is FRT’s Head of Business Development based in London, England. Hailing from Mauritius, Shy brings an incredible depth of knowledge in the field of business development and strategy. Having graduated from the University of Cambridge with a master’s in economics and completing a management course at Wharton, Shy eventually joined FRT to open the United Kingdom office. Currently, Shy wears many hats establishing FRT’s presence in EMEA, however, her focus is leading and developing relationships with partners and custodian bank clients while understanding the evolution of our clients and the market.

1. What brought you to FRT & what keeps you here?

I had colleagues who worked at FRT and they told me how great it was. They said it was a technology company that was growing very quickly. I was given an opportunity, alongside another colleague, to establish the business in Europe and I thought that would be a pretty exciting project, so I took on the role and ever since then it has been an amazing challenge. It is very rewarding and exciting to see how our European client base has grown since opening the office back in April 2018 and being able to play a role in building out the operations within our London office.

2. What are your top priorities and biggest challenges at FRT?

Our biggest priority is continuing to build our brand and grow our business in EMEA. Another priority, but also a challenge, that comes with growth is making sure we have the right resources – i.e. we are well staffed to be able to service our clients and deliver the results they expect. We want to make sure we get that right and everything else follows suit. Being a small team and seeing tremendous client growth is a challenge, albeit a good one to have.

3. What does your typical work day look like?

There really is no “typical day” for us because I travel quite a lot to meet with existing clients and prospects. I also attend conferences and other marketing events on behalf of FRT. On the days that I’m in the office, I’ll check emails, touch base with clients and prospects, scour the news to see what’s happening in the market, and catch up with the teams, both in London and Boston, to see where we are in terms of projects coming through the pipeline. I primarily work with three different teams at FRT and, due to the time difference, I only have about three hours to check in and make sure we’re all on the same page, so I take advantage of that time I have with them.

4. What is FRT doing to ensure that they’re adapting to the changing landscape of class action recovery industries while continuing to meet the needs of our current and future clients?

FRT continues to stay ahead of the curve and does a great job at anticipating future market developments. Our teams are aware of market changes and ensure our products and services cater to the present and future state of the industry. Because the landscape is constantly evolving, one of the trends we noticed a few years ago was many of our pension clients were opting out of U.S. Class Actions. This led to the creation and roll out of our Opt-Out Monitoring Solution to support clients with those decisions. Another milestone to highlight is building out our international operations which has been extremely important to FRT as we continue to grow in EMEA & APAC.

5. How do you define success?

Success is having a thriving business and for FRT, not only in Europe, but globally, as well. Also, it is important to have a highly functioning team all striving toward the same goal. You can’t grow a business with unhappy employees, and you can’t be successful if your business isn’t growing.

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For more information on what our employees have to say about their experiences with FRT, check out our careers page.

About FRT

SETTLED CLAIMS  I  PASSIVE GROUP  I  ANTITRUST  I  FUTURE CLAIMS  I  OPT-IN MONITORING  I OPT-OUT MONITORING

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.

Employee Spotlight: Ruth Hurwitz

As the Director of Professional Development & Administration, Ruth Hurwitz utilizes her extensive background to connect FRT employees globally and strengthen core values. Ruth joined FRT fulltime in 2019, after several months as a consultant, successfully working with employees to promote self-awareness through weekly coaching sessions. With Ruth at the helm, FRT develops programs and initiatives for employees to reach their highest potential, in turn encouraging a consistent gold standard in client service.

 

1. What are your top priorities and biggest challenges at FRT?

My top priorities are twofold. On one hand, I’m assessing how professional development can flow through all our offices, meaning how can FRT as an organization reach and support FRT employees around the world. We’re attempting to culturally tether people, create a community, and make everyone feel included no matter what office they work in. This is not an easy feat. You must also remember that small but important details affect the outcome of your efforts. For example, if employees don’t have a camera on their laptops for video conferencing how are they able to “connect” in other ways? I’m trying to, with the help of our TechOps department, maximize the use of all the great AV equipment we have because when you can see someone’s face and they can see yours it’s such a different experience than emailing or talking on the phone.

Then there’s another priority of mine which is the administrative, day in and day out support. Because I currently manage our facilities, I’m coming up with ways to best support and fulfill FRT offices physical space needs. The biggest challenge with that is working with so many different people to understand our growth, to foresee where we’re growing, to examine which departments are growing fastest, and to keep a hand on the pulse of what’s happening in our offices abroad. It’s a big task to make sure so many people in so many different time zones, five within all our offices, feel linked to one another.

2. What does your typical work day look like?

Monday and Friday, I’m often working remotely and doing things that require my utmost attention, such as writing curriculum, reading up on mindfulness, and further developing our programs. Tuesday and Thursday, I’m in the office in back to back meetings and doing a lot of prep work with the Emerging Leadership Program and other pieces. Wednesday is my coaching day,so I’m prepping, then coaching for four hours, then following up with people regarding coaching assignments.

3. What is your biggest achievement to date at FRT?

My most visible achievement at FRT was moving the Boston office this past fall from our old site to a brand-new building as soon as construction was complete. However, I feel a bigger achievement personally was the launch of the Emerging Leadership Program. I collaborated with other members of FRT’s HR team to create, tweak, launch, and pilot a curriculum that’s completely ours, totally unique to FRT. To me, that’s a great achievement for myself and the company. The Emerging Leadership Program a 16-week program designed to look at leadership from many difference angles, from the social-emotional to the tactile, covering aspects of delegation, motivation, etc.

4. What is FRT doing to ensure that they’re adapting to the changing landscape of class action recovery industries while continuing to meet the needs of our current and future clients?

FRT’s investing in our employees with regards to professional development and coaching. We take a well-rounded approach to training and development and one of our hopes is that our professional development menu will be something that we can talk about in the FRT interview process. In this respect, we attract candidates who are interested in these types of holistic career benefits, as it’s becoming increasingly more competitive to hire and retain. It’s also a benefit to our company as well because these benefits improve employees as well as the company, we’re paying it forward. We’re offering training for people to better themselves through a menu of courses, classes and workshops. People enjoy growth and to know that they’re achieving something.

5. What is one piece of advice that has changed your professional career?

Be forward thinking. There was a point in my life where I wasn’t sure of my career path because I kept shifting my focus. My aunt, who was the VP of HR at Gillette for a long time, suggested that I explore a career in professional development. This is what steered me towards coaching and examining the psychology of a workplace. It’s focused on a more of a forward looking thought process instead of trying to analyze the past, which I’m a big fan of, but that felt a lot more doable; so, I shifted my career trajectory because of her advice and am very happy I did.

Subscribe to FRT’s Monthly Newsletter

Financial Recovery Technologies’ Shareholder Litigation Fast Five provides you with the top news in shareholder class actions. This is your exclusive summary of the latest industry developments related to settled, group and antitrust actions and recovery opportunities. Click here to subscribe.

Learn More

For more information on what our employees have to say about their experiences with FRT, check out our careers page.

About FRT

SETTLED CLAIMS  I  PASSIVE GROUP  I  ANTITRUST  I  FUTURE CLAIMS  I  OPT-IN MONITORING  I OPT-OUT MONITORING

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.

Case Spotlight: Kobe Steel

CompanyKobe Steel, Ltd.
JurisdictionJapan
ExchangeTYO
IndustryMetal
ClaimsFinancial Instruments Exchange Act (FIEA) and Japanese Civil Code (JCC) Claims
Relevant PeriodMay 31, 2013 – October 21, 2019
Participation DeadlineMarch 18, 2020 (for the next filing)

CASE BACKGROUND

On October 8, 2017, Kobe admitted to falsifying test data regarding product strength and durability across two of its metal components. While originally it was thought to only pertain to its aluminium and copper products, it was later revealed to extend to several additional metal parts. Shortly after the October 8th disclosure, it was discovered that over the course of several years, approximately 500 companies worldwide received falsely certified products from Kobe Steel. As a result of these disclosures, on October 13, 2017, Kobe’s stock price fell approximately 40%.

On December 21, 2017, it was revealed that Kobe executives were aware of the falsified reporting. Finally, after several external investigations, Kobe released a statement confirming that management had knowledge of the fraudulent reporting tactics spanning over 5 decades. Kobe announced to the market that it was “too difficult to estimate the impact of the improper conduct” on its previously forecasted $308 million FY2017 profit projections. While Kobe’s stock price plummeted approximately 40% between October 8 and October 13, on November 2, 2017, it recovered to stay almost 20% down through the end of 2017. This resulted in a market cap loss of about $9.37 million.

DETERMINING ELIGIBILITY & COSTS

Shareholders are eligible to participate if they acquired shares on or after May 31, 2013 and held those shares through March 9, 2018.

In Japan, adverse-party cost shifting only works in one direction – against the defendant. While the losing side will not be responsible for the other side’s attorneys’ fees, the court may require the losing side to pay court costs for both parties. DRRT is funding the litigation on a “no win, no fee” basis in accordance with the terms of its funding agreement. This will include indemnifying you against any potential risk for adverse party costs. All expenses, including the lawyers’ fees and all other costs of the class action, will be paid by the funder.

If successful, the funder will be paid its contractual percentage success fees plus reimbursement for legal fees and case costs from the settlement or judgment.

NEXT STEPS

The participation deadline for the next filing is March 18, 2020. If investors decide to participate, they must have compensable losses under Japanese law. Please contact your FRT Representative or email us learnmore@frtservices.com if you would like to discuss registration in this case.

FRT can review your estimated damages and, if material, provide your trading data — anonymously and without disclosure of your identity — to the organizer for further evaluation of your losses.

Learn More

For more information on this case or FRT Opt-In Monitoring service, please contact us at learnmore@frtservices.com.

>> DOWNLOAD OUR JAPAN JURISDICTION PROFILE

Additional Materials

About FRT

SETTLED CLAIMS  I  PASSIVE GROUP  I  ANTITRUST  I  FUTURE CLAIMS  I  OPT-IN MONITORING  I OPT-OUT MONITORING

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.