FRT’s Fast Five: Week ending November 30, 2018

Financial Recovery Technologies Fast Five provides you with the top news in shareholder class actions. Stay up-to-date on the latest developments in U.S. claims filing opportunities, Antitrust settlements, Global Group Litigation matters and more. For more information, contact your Financial Recovery Technologies representative or email us.

1. Whistleblower reveals more players in £178bn Danske Bank scandal

A major European lender and two US banks have become embroiled in an alleged €200bn (£178bn) money-laundering scandal at Danske Bank, following new testimony by a key whistleblower. Click here to read the full article.

2. RCR Tomlinson hit with class action from Quinn Emanuel after share plunge

RCR Tomlinson has been hit with a class action lawsuit following a $57 million write-down on two Queensland solar projects and a slumping share price as the engineering group extended its voluntary trading suspension and its contractors pulled workers off solar farms. Click here to read the full article (subscription may be needed).

3. Yelp Gets Partial Toss Of Investor Suit Over Biz Retention

A California federal judge partially tossed a proposed investor class action against Yelp Inc. on Tuesday, finding that some of the crowd-sourced review site’s allegedly misleading statements about its advertising program with local businesses were forward-looking while others may have been made to conceal the program’s retention problems. Click here to read the full article (subscription may be needed).

4. AbbVie Tries To Ax Investor Suit Over $100M Stock Drop

AbbVie Inc. urged an Illinois federal judge on Tuesday to toss a proposed class action over a corrective disclosure released after a stock buyback effort that shareholders said cost them $100 million, arguing that the investors failed to make any adequate fraud or negligence claims. Click here to read the full article (subscription may be needed).

5. Tesla Tweet Suits Combined With Levi & Korsinsky At Helm

A California federal judge on Tuesday chose a Levi & Korsinsky LLP-represented trader as lead plaintiff in a slew of class actions seeking to hold Tesla and Elon Musk accountable for two August tweets that roiled the company’s stock price. Click here to read the full article (subscription may be needed).

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 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: Iris Sanxhaku

Iris Sanxhaku is an Account Manager at Financial Recovery Technologies. She recently relocated to London joining our European team as we continue to expand our business internationally. She brings over five years of experience in client service, where she primarily supports some of our largest custody clients and our European client base.

What are your top priorities?

My top priority is making sure that our clients are happy with our services. It is important to me that I’m providing not just reactive service, but proactive guidance on how to navigate our services and of course the market. An account manager at FRT is like a quarterback in football. You must be a master of the game and become an expert in delivering value to your top accounts.

FRT is growing, and the shareholder class action industry is continually evolving. New cases are being litigated and settled every day, so it is an exciting time to be an account manager.

What does your typical workday look like?

My average day is spent proactively educating my clients on cases where they have eligibility, responding to client inquiries, as well as internal and client meetings.

As I recently relocated to London, I now have the opportunity to meet face-to-face with our European clients and learn about the unique challenges they face that differ from the U.S. clients.

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?

Our Product Team has developed key processes to minimize the manual work and generate significantly better reporting. We are committed to automation and technology to provide efficiency.

Our Marketing Team has been phenomenal in updating the website and all our blogs providing content for us to share with clients and prospects. Especially through LinkedIn as an avenue of social media, which has come a long way over the years and we didn’t use as frequently when I first started.

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

Attention to detail. Working with one of our largest partners, I have learned how important it is to make sure all data is accurate to ensure reporting is correct. I always double check what I am going to tell the client to make sure I am communicating with confidence.

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

Be open-minded. You never know when something isn’t for you unless you try it out and you never know what opportunities lie that could help you succeed in the future.

Learn More

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

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.

Five Ways Our Technology and Expertise is Providing Real Value to Clients for the Forex Antitrust Litigation

Last month, investors’ attention focused on preparing and filing for the Forex Antitrust Litigation – one of the largest ($2.3 billion) and most complex antitrust settlements and claims filing recovery opportunities to date. The projected recovery rate is greater than 90% of the losses resulting from the price manipulation.

As the pioneer in Antitrust Class Action Recovery, we leveraged our proprietary software systems to query data, determine eligibility and process more than 40,000 claims for nearly 250 clients all before the Forex filling deadline. The pace of antitrust settlements is accelerating and every stage of the claims recovery process is critical.

Here are five ways our clients benefited from partnering with FRT for Forex assistance that may be relevant for future Antitrust cases:

FOREX ANTITRUST CASE: CLIENT SUCCESS STORIES

1. Investors found that their current custodian was not handling Forex (or any Antitrust cases) for them:  One of the largest pension funds was confident that their custodian would file for any of their antitrust case, including the $2.3B Forex settlement. FRT repeatedly explained over several months that these cases are out-of-scope for custodians because of the complexity of the data, types of instruments involved, and lengthy class periods.

  • Days before the deadline, the firm reached out to FRT to assist with the claims filing process after receiving confirmation from their custodian that they would not be filing Forex on their behalf. FRT was able to work with the firm and Claims Administrator to execute a timely filing.

2. Claims notices went missing after moving offices: An $800B hedge fund became an FRT client two days before the Forex filing deadline after realizing that they had not received all of their eligible claim notices. Claims notices are physically mailed, and since the Client had moved offices within the year, their claims notices were lost in the moved.

  • FRT worked with the claims administrator to locate all potentially eligible accounts, as well as each account’s unique log-in credentials to assist the client in the constructed claims filing process and  file in advance of  the deadline.

3. Incorrect assumption of size of potential recovery: A $15B public pension fund believed the size of their settlement recovery for the Forex antitrust case was not significant enough to warrant immediate action.

  • FRT’s proprietary systems generated an in-depth analysis of their estimated damages and potential recognized loss calculations to prove that it was worthwhile to file their claims for Forex.

4. Difficulty connecting with claims administrator: A $3B mutual fund failed to receive claim notices for six of their accounts that they believed to be eligible under Option 1. After experiencing difficulty getting a response from the claims administrator, they asked FRT for their help.

  • FRT was able to speak directly with the claims administrator on the client’s behalf and successfully obtained the eligible claim notices.

5. Eligible claims found well past the filing deadline: After Class Counsel announced a 30% participation in the Forex Antitrust Case, many investors realized that they were eligible well after the deadline.

  • FRT maintained close discussions with the claim administrator and successfully issued late claim waivers for 60 entities. All waivers were accepted and received filing extensions where FRT continued to assist in the claims filing process.

While Antitrust claims filing is challenging, it can be done. Contact FRT at learnmore@frtservices.com to leverage our experience and technology to help you through the process.

Learn More

If you want to learn more about FRT Antitrust, filing a late Forex claim or submitting your full data to maximize your recoveries, please reach out to your account manager 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 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.