THE SETTLEMENT AWARD MARKET

Of the four thousand (4000) securities class action lawsuits filed since 1996, approximately twelve hundred (1200) have settled. At any given time, there are over three hundred (300) settlement pools totaling over $30 billion that are available for distribution. Industry research has uncovered that a large majority of institutional investors leave award monies unclaimed*.

*"We find that less than thirty percent of institutional investors with provable losses perfect their claims in [securities class action] settlements.”
STANFORD LAW REVIEW Professors James D. Cox & Randall S. Thomas

REASONS WHY AWARD MONIES ARE UNCLAIMED

• The perception that an execution, custodial or banking partner is filing claims accurately and maximizing award recoveries
• Reliance on a third party service provider that does not generate recognized loss calculations and maximize award recoveries
• In-house resources are tasked with award recovery and the complexity of the processing and data management is not the core competency of fund personnel
• Courts’ notification process is imperfect and subscription services often fall short
• Changes in personnel, execution and clearing partners and IT (data) migrations challenge the accuracy of data continuity and award recovery

RECENT DEVELOPMENTS

In the last ten years, settlements have increased in number and dollar amount per action, There has also been an increase in news stories regarding the high dollar value of unclaimed settlements and the responsibility that institutional investors have to file claims. This has led organizations to focus more attention on the process of identifying and recovering maximum settlement awards.

THE BATTEA DIFFERENCE

Whereas most award recovery efforts entail providing raw trade data to the claims administrator, Battea experts manage the entire claims process using The Claims Engine®, a proprietary, end-to-end processing system, that matches client trade data to the entire universe of pending settlement cases. The system calculates accurate and substantiated recognized losses for every claim, automates the claims filing process and delivers the maximum awards possible. The result is the award recovery industry’s highest net return.