Battea’s client reporting is delivered via our secure web portal which enables clients 24/7 access and is updated daily. Our Account Management representatives deliver non-confidential client communications with respect to servicing the account via email or telephone. Battea Client Portal provides a high level of transparency concerning the status of a client’s class action claims filings and award distributions. The reports include the Pending Claims Report, which shows all of the claims filed on behalf of the client, and the Distribution Report, which displays all of the settlement payouts that have been received by Battea on behalf of the client. Flexibility enables clients to customize reports according to various criteria and reporting is available in different formats, including PDF and Excel, to accommodate client needs. Along with the distribution for a given month’s settlement payouts, the client will receive a disbursement letter detailing all of the settlement payouts that are included therein.
Estimated Payments and Recognized Losses
Battea does not calculate estimated payments for claims that have been filed but not yet processed; however, we do calculate recognized losses for every claim filed. In a securities class action settlement, the term recognized loss refers to the economic loss suffered by a claimant as defined by the settlement’s Plan of Allocation. Recognized loss represents the true value of a claim and is the specific number used by the claims administrator when calculating the pro-rata award amount for each claim. It may or may not correspond to an actual or market loss. Because settlement distribution amounts are a prorated value of a client’s recognized loss, this recognized loss calculation is extremely important as this serves as the basis for all settlement payouts and reconciliation of disbursed awards. Accurate recognized loss calculation is essential in determining the overall accuracy of award payouts and validity of any claim rejections. Battea programs the individual Plans of Allocation from every case into its proprietary technology, The Claims Engine®, to ensure the accurate calculation of recognized loss from a client’s aggregate trading transaction information.