Battea – Class Action Services counts hundreds of hedge funds among its clients. We originally developed our service, and subsequent technology, to serve as an in-house solution to automate and improve the efficiency of securities class action claims filing and recovery for an options trading firm with a large proprietary trading component. With a background in the alternative investment arena, our professionals understand the challenges that hedge fund managers face, particularly with respect to compliance and their need to fulfill their duty as fiduciaries to claim securities class action settlement funds due to their investors.
Hedge funds and other alternative investment vehicles can have significant trading activity, making the already complex claims filing process even more difficult. Thanks to its unique Claims Engine technology, Battea is an expert in processing complex data, submitting it in approved form to the claims administrator, and following the individual rules from each settlement’s Plan of Allocation.
Hedge funds, by their nature, tend to be very lean organizations. Securities class action claims filing often typically falls under the General Counsel’s office, but in many firms, the Chief Operating Officer (who in many cases is also the Chief Compliance Officer) is tasked with overseeing this function. Because hedge fund Chief Operating Officers are usually assigned a multitude of functions, they lack the resources or expertise to track the status of hundreds of securities class action cases pending each year.