Our History

Battea – Class Action Services’ entrepreneurial roots grew out of a proprietary trading firm. In the mid-1990s, a successful San Francisco options trading company began receiving numerous notices for securities class action settlements. The task of filing claims for these settlements fell under the responsibility of the firm’s Chief Operating Officer at the time, Mark Donaldson. Bogged down by the volume and complexity of the task of filing class action claims, particularly with the massive trading volumes transacted by the firm, Mark decided there had to be a better way to effectively address the class action claims filing process. With that idea in mind, he turned to the firm’s team of leading trading technologists to improve the process. At that time, the team was improving the processes of automating daily trade sheets and customizing position reports. They applied the same principles to automating award recoveries. The first large settlement award was from the 3Com settlement, and from that moment, Battea as an award recovery company was born.

By automating the securities class action claims process, the firm was able to dramatically increase its return on settlement assets while achieving significant efficiency and accuracy. Building on this, Battea principals subsequently designed the industry’s leading end-to-end processing system that contains the specific rules of recovery for over a thousand settlement cases. In 2001, the company was spun out from the proprietary trading firm and embarked on class action claims filing for institutional customers.

From 2001 through 2008, Battea perfected its claims processing technology and expanded its customer base to more than 50 firms. In 2009, we partnered with a venture investor whose expertise was well-matched to Battea’s strategic expansion plans. Since 2009, Battea has expanded its customer base to hundreds of institutional firms, including:

  • hedge funds
  • proprietary trading companies
  • registered investment advisors
  • sovereign funds
  • pensions; and
  • high-net-worth families.

Battea has continued to invest heavily in its infrastructure, including:

  • significant technology investments
  • acquisition of experienced talent; and
  • implementation of operational best practices.

Today, Battea has offices in San Francisco, CA and Stamford, CT, with international support agents located in London, Madrid, and Copenhagen to service domestic and international clients.