Financial Times – Legal Services Start-ups Target Lawyers’ Paperwork

“Lawtech” Litigation Settlements.

How much more efficient would it be, then, for an investor who has lost out because of fraud to have a computer program that does all the work: analysing their portfolio, tracking any related legal cases and providing a list of law firms investigating or pursuing litigation

That, put simply, is the aim of Battea Class Action Services, a US company that has filed a patent for a program that scours companies’ securities investments to spot losses resulting from false disclosure, manipulation or other forms of fraud.

The program, say its creators, will assess if those losses are actionable, find pending or active cases, and identify law firms investigating or pursuing related litigation.

The exclusive property of Battea, The Claims Engine® is the state-of-the-art software engine that Battea uses to sort out the mountains of data needed to base a claim. It’s a highly efficient system that accurately and reliably calculates economic loss or “recognized loss” to substantiate the precise value of each claim. Battea experts draw on their extensive experience in both the intricacies of case settlement rules and complexities of trading data to combine and match all settlements on a proprietary database and infrastructure platform.

MATCH DATA: Matches historical client trade data to the complete universe of forming, pending and distributing settlement cases

CALCULATE LOSS: Accurately calculates recognized loss for each claim without the errors associated with manual methods and elementary database programs

CONFIRM AMOUNT: Substantiates recognized loss to confirm the award amount and implement successful appeals of deficiencies and rejections
EXPOSE DISCREPANCIES: Exposes discrepancies and anomalies in the rules of the settlement
AUTOMATE FORMS: Automates the compilation of claim forms and supporting documentation in the format preferred by each claims administrator
RECOVER AWARDS: Deep expertise and depth of knowledge, unparalleled among its peers, recovers the maximum and most accurate rewards

This article can be found on Financial Times website here.