Employee Spotlight: Mike Lange

Mike Lange is the Senior Vice President of Worldwide Litigation at Financial Recovery Technologies. With more than 20 years of practice, he has built a rich network of relationships around the world including corporations, government agencies, lawyers and other professions, which he brings to bear for FRT clients.

1. What are your top priorities and biggest challenges?

My top priorities are deepening our network of global relationships, helping build our governance solution, and ensuring we identify every recovery opportunity worldwide that touches on our clients’ investments. Back in 2015, when FRT was growing, the number of eligible recovery opportunities was also increasing substantially and as a result, we identified one of the biggest challenges of finding every opportunity. There are a lot of moving pieces in the process, but as the market evolves, so is FRT. We are committed to staying on top of the rapidly evolving global landscape with new countries coming on, evolving laws in active countries, and more organizers and cases every year.

2. What does your typical day look like?

It seems to vary as soon as I hit the door. I spend a large part of my day identifying new cases outside of our core claim filing business and understanding how all those types of recovery opportunities work in other jurisdictions. The entire legal team services all departments within FRT including client service, marketing and sales, and operational support and I will engage cross-departmentally to support the client and sales in providing my expertise and demonstrating our value proposition.

3. What is FRT doing to ensure they are adapting to the changing landscape of the class action industry while continuing to meet the needs of current and future clients?

FRT has done a great job maintaining relationships with the key players in various global jurisdictions. As we are solely focused on shareholder class actions, we have established ourselves to be at the forefront of new trends and issues. This allows us to support our clients efficiently and effectively and continuously think about how to improve the packaging of the information we provide and the services we offer for our clients.

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

I am proud to have helped the team launch the antitrust recovery offering, as well as put organization and structure around the global offering, which has proven to drive the business to the next level. It was a cross-departmental effort involving the legal team, operations, sales, marketing, and client services. Not only does it demonstrates our core values, but it is a good example of the launch of a new product where collaboration had input in the ultimate success.

5. What is the most valuable lesson you have learned during your tenure at FRT?

I’ve worked in organizations that have been very slow to adapt, grow and develop. FRT doesn’t suffer from that. If we believe something needs to be done, it gets done quickly and efficiently. So, my advice could be is to be persistent. It’s important to always look at a challenge as an opportunity and constantly be striving to learn from setbacks and be more nimble going forward.

6. What advice do you have for someone considering a career at FRT and in the legal industry?

Don’t go in with any preconceived notions. Be flexible and adaptable from the very beginning because you may come in thinking you’re going to be doing one thing and it will evolve into something else. And a year later, you’ll be doing something completely different.

 

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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.

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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.

FRT’s Fast Five: Week ending August 16, 2019

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.

1. Big Banks Get Dozens of Claims Cut From Libor-Rigging MDL

Bank of America and a host of other big banks being sued over their alleged role in rigging Libor will face a slimmed-down set of claims after a New York federal judge agreed to honor an agreement made with Freddie Mac and the Federal Deposit Insurance Corp. to cut dozens of claims. U. S. District Judge Naomi Reice Buchwald agreed to bless the agreement in a handwritten order Monday, made on the bottom of the banks’ original request filed in June. Click here to read the full article (subscription may be needed).

2. Investors Want UK Traders to Testify in Last Leg of Forex Suit

Investors that have secured $2.3 billion in settlements over claims that big banks plotted to rig the foreign exchange markets are seeking testimony from three United Kingdom traders as they take aim at Credit Suisse, the only bank yet to settle. The forex investors asked a New York federal judge on Friday to request assistance from courts in the U.K. in taking testimony from three former forex traders for the London offices of multiple international banks, arguing that their participation in chat rooms with forex traders from competing banks will be crucial to proving Credit Suisse AG’s part in the alleged conspiracy to rig forex benchmark rates. Click here to read the full article (subscription may be needed).

3. Steinhoff to Sell Assets in Push to Survive Debts and Lawsuits

Steinhoff International, the global retailer that is battling to overcome the legacy of South Africa’s biggest accounting scandal, has pledged to slim its business and sell assets in order to survive heavy debts and shareholder lawsuits. The owner of store chains including the UK’s Poundland and Conforama in France is considering the sales as it tackles “too high” debts of $10bn that were left by its 2017 collapse, Louis du Preez, Steinhoff’s chief executive, said on Tuesday. “Where appropriate, divestments are being considered,” the company said in its first presentation to investors since the group revealed a hole in its accounts of billions of dollars two years ago. The scandal wiped $15bn from Steinhoff’s shares and was linked to faking of significant income by former executives. It led to €13bn of writedowns as Steinhoff restated its accounts amid a forensic probe. Click here to read the full article (subscription may be needed).

4. 2018–2019 Australian Class Actions Review

This is Jones Day’s fifth review of Australian class actions developments. The White Paper reviews the class actions that were commenced and settled in 2018–2019. The White Paper also examines the types of novel claims that may be commenced as class actions in the future. This analysis aims to assist readers in identifying both current and potential areas of risk for class actions. The 2018–2019 White Paper also discusses the important topics of competing class actions, common fund applications, class action settlement practices and litigation funding fees. Click here to read the full article.

5. 2019 Mid-Year Developments in Securities and M&A Litigation

Cleary Gottlieb’s “2019 Mid-Year Developments in Securities and M&A Litigation” discusses major developments from the first half of 2019 and highlights significant decisions and trends ahead. Click here to read the full article.

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

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

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.

FRT’s Fast Five: Week ending August 8, 2019

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.

1. Danske Bank Must Fight Shareholder Suit Over Laundering Scandal

A U.S. class action lawsuit against the Danish bank at the center of Europe’s biggest money laundering scandal will go forward after a court rejected its request to dismiss the case. Danske Bank A/S must respond to an investor complaint by mid-September, according to an Aug. 7 order by the U.S. District Court for the Southern District of New York. Click here to read the full article.

2. Deutsche Asks for Early Win in Preferred Securities Suit

Deutsche Bank and several big banks acting as its underwriters have urged a New York federal judge to grant them an early exit from a shareholder suit accusing the banks of misleading investors in offerings of preferred securities during the implosion of the U. S. housing bubble. Deutsche, along with underwriters including Banc of America Securities LLC, Citigroup and Merrill Lynch, asked the judge to grant them summary judgment Wednesday, arguing that the shareholders cannot prove the price of the securities dipped due to Deutsche’s failure to disclose the extent of its exposure to the whims of the housing market. Click here to read the full article (subscription may be needed).

3. Environmental Liability-Related Securities Suit Filed Against 3M

At a time when litigation involving corporate disclosures regarding cybersecurity, privacy, and human resource practices and other hot topics dominate the discussion, potential corporate exposure arising from environmental liabilities and disclosures does not always receive the attention it deserves. A new securities suit recently filed against 3M is the latest example of corporate and securities litigation arising from environmental disclosure-related issues. As discussed further below, the 3M complaint is also the latest example of event-driven securities litigation as well. Click here to read the full article.

4. South Africa: a ‘Dear Friend’ SMS From Markus Jooste Adds to His Steinhoff Woes

A ‘Dear Friend’ SMS of apology from Markus Jooste days before the news of the Steinhoff firm’s rot was exposed, has been handed in as evidence in a court case that is seeing the pressure mount on Jooste, the former chief executive officer of the international furniture and household goods retailer. Jooste resigned hurriedly amid rumours that the company had been misrepresenting its earnings to shareholders and investors to the tune of more than U.S.$7 billion. This was just the tip of the iceberg as more layers of corruption and mismanagement were peeled back and exposed, making this the biggest white collar corruption case in South Africa’s history. Click here to read the full article.

5. Exxon Hit With New Stock-Drop Suit Over Climate Disclosures

A group of Exxon Mobil Corp. investors sued the energy giant’s top officers in New Jersey federal court Tuesday, alleging they misled investors about the expected impacts of climate change on various aspects of the company’s business. Click here to read the full article (subscription may be needed).

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

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

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.