| $30 billion in securities settlements
will be distributed to those who file claims correctly. In the STANFORD LAW
REVIEW Professors James D. Cox & Randall S. Thomas said, "We find that
less than thirty percent of institutional investors with provable losses perfect
their claims in [securities class action] settlements. |
In the field of securities-related lawsuits, Class Action Services, LLC offers the solution for investors entitled to rewards. We manage the complete claims submission process—from identifying settled lawsuits and determining eligibility to compiling claims and negotiating maximum payouts.
We have developed the solution for filing claim forms. Class Action Services is the only firm that has completely computerized every detail of every 1,182 plans of allocation for all settlements since 1996. We have dedicated eleven years to developing computer code that sits on top of an Oracle 10i data engine.
Plans of allocation, which vary in length from five to fifty pages, are written by lawyers and can be extremely complex. Converting each POA to computer code can turn into a thousand lines per page. In excess of 10,000 man-hours were dedicated to software development over the past eleven years to accurately interpret this data. Data fed to the machine must be "normalized" to properly integrate with the software. Years of manual analysis would be required to equate accuracy similar to the CAS system. CAS calculates the exact loss and actively pursues recovery of that amount.
In 2001, securities-related class action settlements totaled a record $2.7 billion. The size of settlements and number of cases continues to increase, while only half of eligible participants file claims. Often, our clients were unaware of their right to compensation because notifications were never received or were thrown away. Sometimes claims went un-filed because of the burdensome, complex process, or the perception that the reward amount would not be worth the effort.
Rather than wait for notification, we actively investigate listings of settled cases and use proprietary database software to match and process client trade data. CAS handles all types of settlements from simple cases concerning a single stock, to more complex situations involving multiple accounts, arbitrage and options. We take advantage of our experience in the field to manage each claim completely and effectively.
With years of experience in the securities industry, Class Action Services has developed a sophisticated research and claims management system while simultaneously building relationships with a wide network of industry experts. By combining resources and expertise, we have successfully recovered millions of dollars for both individuals and large groups. |
