|
Public pension funds are decidedly in the top most important
entities in the nation from a corporate governance perspective.
These funds have the highest likelihood to have superlative systems
in place for filing claims.
However, Class Action Services has specifically devoted 10,000
man hours to fabricate the most powerful system with upwards of
10 million lines of code and superior capacity to run trade data
of pension fund audits and policy.
The CAS system is the compulsory check for reviewing an investment
advisors performance or a custodian’s pricing. Applications
for tracking results must be reviewed from time to time to guarantee
the process is accurate and to constantly improve internal systems
to eliminate risk and error.
While checking internal policies is extremely important, the
CAS system is also the only process that will calculate the exact
amount of your recognized losses. The Class Action Services system
determines the recognized loss and exact amount of money you should
have expected compared to the actual amount received.
With the increasing focus on the boards of public pension funds,
this is a prime opportunity for directors to document their independence
and ensure that the fund conforms to best practices and policies.
Periodic audits, as required for nearly every aspect in the investment
process, are necessary to confirm activities performed for the
fund’s accounts are up to par and fairly priced. This easy
action by the board vaults interests of beneficiaries.
Class Action Services can work on a performance basis, and guarantees
all claims that can be submitted are submitted. Auditing provides
an excellent bill of health for the fund as well as independent
directors. In addition, it helps directors indemnify themselves
from any missed claims. With Class Action Services you are absolved
of this responsibility and indemnified for all claims arising
from those for which we are presented data.
The Summary Pending Report provides you with such an accurate
accounting of total recognized losses in class action settlements
and a range of how much you could ultimately expect to recover,
that it can be considered another asset of the fund. We would
argue that you could use this asset of the fund when you’re
doing your asset testing. If you have $400 million in recognized
losses you will probably collect $20 to $40 million over the next
couple of years. It would seem prudent to at least foot note financial
statements with this predictable recovery.
This identifiable, quantifiable recovery is valued by many investors
as a marketable asset. Our clients have been approached by people
willing to buy their recognized losses. Our report is considered
so accurate that these investors will pay you money today to own
the recovery.
The fund goes through an asset test every year to determine whether
the fund is fully funded or under funded. This pending recovery
is an asset. Our financial partners would be pleased to bid for
your recognized losses providing additional proof of their worth. This is
where additional money can be brought in today should you need
it.
|
