The Battea Report: Half-Year 2022 Client Newsletter
Settlement Funds with Imminent Claims Filing Deadlines
|Settlement:||Settlement Fund:||Claims Filing Deadline:||Class Period:|
|BLACKBERRY LTD.||$165,000,000||September 7, 2022||March 28, 2013 — September 20, 2013|
|CANADIAN IMPERIAL BANK OF COMMERCE (CIBC)||CA$125,000,000||September 16, 2022||May 31, 2007 — December 6, 2007|
|GENERAL ELECTRIC FAIR FUND||$200,000,000||October 19, 2022||October 16, 2015 — January 16, 2018|
|FACEBOOK INC FAIR FUND||$100,000,000||October 26, 2022||January 28, 2016 — March 19, 2018|
|EURIBOR ANTITRUST LITIGATION (ADDITIONAL $55M SETTLEMENT)||$491,500,000||November 3, 2022||June 1, 2005 — March 31, 2011|
|SINGAPORE INTERBANK OFFERED RATE (SIBOR SWAP)||$155,458,000||December 29, 2022||January 1, 2007 — December 31, 2011|
|PRIME BROKER SECURITIES LENDING STOCK LOAN||$81,000,000||TBD||January 1, 2009 — January 20, 2022|
|SWISS FRANC LONDON INTER-BANK OFFERED RATE LIBOR||$69,750,000||TBD||January 1, 2001 — December 31, 2011|
BLACKBERRY LTD. SETTLEMENT:
ELIGIBLE CLASS: All persons or entities who during the Class Period, purchased BlackBerry Limited common stock on the NASDAQ (trading symbol “BBRY”) between March 28, 2013, and September 20, 2013.
ELIGIBLE INSTRUMENTS: BlackBerry Limited common stock (“BBRY”).
CANADIAN IMPERIAL BANK OF COMMERCE (CIBC) SETTLEMENT:
ELIGIBLE CLASS: All persons, wherever they may reside or be domiciled (except residents of the United States of America) who acquired common shares of CIBC listed on the Toronto Stock Exchange during the period from and including May 31, 2007 to and including February 28, 2008 and still held any of those acquired CIBC common shares at the close of trading on the Toronto Stock Exchange on any or all of November 9, 2007, November 13, 2007, November 14, 2007, November 19, 2007, December 5, 2007, December 6, 2007, and December 7, 2007 (“Public Correction Dates”), other than certain Excluded Persons* and those who validly opted out pursuant to the notice of certification issued on October 5, 2016 (“Class Members”).
ELIGIBLE INSTRUMENTS: CIBC common shares (“CM”).
GENERAL ELECTRIC FAIR FUND SETTLEMENT:
ELIGIBLE CLASS: All persons or entities who, during the Class Period, purchased General Electric common stock that were purchased from October 16, 2015, and continuing until the market close on January 16, 2018 (the “Relevant Period”) due to the misconduct.
ELIGIBLE INSTRUMENTS: General Electric common stock (“GE”).
FACEBOOK INC. FAIR FUND SETTLEMENT:
ELIGIBLE CLASS: All persons and entities who, directly or through an agent, purchased Facebook common stock between January 28, 2016 and March 19, 2018.
ELIGIBLE INSTRUMENTS: Facebook common Stock (“META”).
EURIBOR ANTITRUST LITIGATION SETTLEMENT (Additional $55 Million Settlement):
ELIGIBLE CLASS: All Persons who purchased, sold, held, traded, or otherwise had any interest in Euribor Products from June 1, 2005 through and including March 31, 2011, who were either domiciled in the United States or its territories or, if domiciled outside the United States or its territories, transacted in Euribor Products in the United States or its territories from June 1, 2005 through and including March 31, 2011, including, but not limited to, all Persons who traded CME Euro currency futures contracts, all Persons who transacted in NYSE LIFFE Euribor futures and options from a location within the United States, and all Persons who traded any other Euribor Product from a location within the United States.
ELIGIBLE INSTRUMENTS: “Euribor Products” means any and all interest rate swaps, forward rate agreements, futures, options, structured products, and any other instrument or transaction related in any way to Euribor, including but not limited to, New York Stock Exchange (“NYSE”) London International Financial Futures and Options Exchange (“LIFFE”) Euribor futures contracts and options, Chicago Mercantile Exchange (“CME”) Euro currency futures contracts and options, Euro currency forward agreements, Euribor-based swaps, Euribor-based forward rate agreements, and/or any other financial instruments that reference Euribor.
SINGAPORE INTERBANK OFFERED RATE (SIBOR SWAP) SETTLEMENT:
ELIGIBLE CLASS: All persons or entities that engaged in U.S.-based transactions in financial instruments that were priced, benchmarked, and/or settled based on SIBOR and/or SOR at any time from at least January 1, 2007 through December 31, 2011. Excluded Persons* from the Class are Defendants and their employees, agents, affiliates, parents, subsidiaries and co-conspirators, whether or not named in this complaint, and the United States government.
ELIGIBLE INSTRUMENTS: SIBOR/SOR based derivatives: All financial instruments that were priced, benchmarked, and/or settled based on SIBOR and/or SOR and that were transacted in U.S. based transactions, including over the counter instruments such as interest rate swaps, forward rate agreements, and foreign exchange swaps and forwards.
PRIME BROKER SECURITIES LENDING STOCK LOAN SETTLEMENT:
ELIGIBLE CLASS: All persons and entities who, directly or through an agent, entered into stock loan transactions with the Defendants in the United States from January 1, 2009 through January 20, 2022. Excluded Persons* from the Class are Defendants, their employees, parents, subsidiaries, and coconspirators, whether or not named in this Complaint.
ELIGIBLE INSTRUMENTS: Stock loan transactions. Stock lending is the temporary transfer of stock from one investor to another investor. It plays a vital role in maintaining the liquidity of financial markets and is the fundamental process underlying most short selling activity.
SWISS FRANC LONDON INTER-BANK OFFERED RATE LIBOR SETTLEMENT:
ELIGIBLE CLASS: All persons or entities that purchased, sold, held, traded, or otherwise had any interest in Swiss-Franc LIBOR-Based Derivatives during the Class Period that engaged in U.S.-based transactions in financial instruments that were priced, benchmarked, and/or settled to Swiss franc LIBOR.
ELIGIBLE INSTRUMENTS: Swiss-Franc LIBOR-Based Derivatives, which means any of the following entered into by a U.S. Person, or by a Person from or through a location within the U.S.: (i) a three-month Euro Swiss franc futures contract on the LIFFE; (ii) a Swiss franc currency futures contract on the CME; (iii) a Swiss franc LIBOR-based interest rate swap; (iv) an option on a Swiss franc LIBOR-based interest rate swap (“”swaption””); (v) a Swiss franc currency forward agreement; and/ or (vi) a Swiss franc LIBOR-based forward rate agreement.
The Battea Report: Battea in the News
New Global Partners
In July 2022, Battea announced a partnership with HC Global Fund Services, LLC, leading global fund administrator since 2008. “HC Global Fund Services, LLC is elated to partner with Battea Class Actions Services as their best-in-class capabilities will enable us to offer potential non-trading alpha to our clients, I have personally worked with the team for over 7 years and have seen their execution from both sides of the table (buyside and service side).” noted Ghufran Rizvi, Chief Operating Officer, HC Global Fund Services, LLC. Read the Full Story.
In June 2022, Battea announced a partnership with WTax, the market-leader in wholly outsourced withholding tax (WHT) reclaim services. This partnership will be instrumental in sharing resources and knowledge to provide unparalleled WHT and securities class action claim infrastructure to WTax and Battea’s collective client base of the world’s largest asset managers, hedge funds, banks, and buy-side investors. Read the Full Story.
In May 2022, Battea announced a partnership with Commerce Street Holdings, a premier investment banking firm serving and investing in financial institutions across the United States since 2007. “Commerce Street is elated to partner with Battea Class Actions Services as their best-in-class capabilities will enable us to offer potential non-trading alpha to our clients,” noted Ray Kong, Managing Director, Commerce Street Holdings. Read the Full Story.
SSAE 18 TYPE II Certification
In June 2022, Battea successfully completed its twelfth-straight American Institute of Certified Public Accountants (AICPA), Independent Service Auditor’s Report SSAE 18 Type II examination, also known as a Report on Controls at a Service Organization (SOC 1). “SSAE” is an acronym for Statement on Standards for Attestation Engagements and SSAE No. 18 is an attestation standard that establishes the requirements and guidance for reporting on controls at a service organization, relevant to user entities’ internal control over financial reporting. Successor to SSAE 16, SSAE 18 includes significant updates which strengthen the overall quality of the SOC 1 report. The official audit, conducted annually by an independent auditing firm, provides an in-depth examination of a service organization’s system and the suitability of the design and operating effectiveness of controls certifying Battea’s securities class action recovery services.
Legal 100® Awards 2022
Battea has been chosen as the recipient of the Best in Investor Settlement Recovery by Legal 100®. This incredible achievement highlights Battea for having a high pedigree in managing the most complex data sets, continuous investments in innovation, a supreme level of service, and the overall value the firm provides in this tough ever-changing industry. With this award, Battea demonstrates unquestionable abilities and endorsements from both clients and peers.
Corporate America Today® Awards 2022
Battea has been chosen as the recipient of the Best in Hedge Fund Securities Class Action Settlement Recovery – 2022by Corporate America Today®. Battea is receiving this award for the fourth straight year and its selection was chosen by the nearly 3000,000 professionals in senior leadership positions, including C-suite and directors.
Reminder: The main ingredient in a successful filing is the data – in this case your data! If you have any questions about how you can ensure that we have all of your eligible transactional data, please contact your customer service representative at Battea or call at (203) 987-4949.