CLASS ACTION CASE RESEARCH
Complications of certain trades are demanding a much higher and sophisticated level of knowledge, consequently presenting a set of challenges Battea meets.
Clients have relied on Battea since the turn of the century to provide accurate claims filing for U.S. class action settlements. Increasingly, clients have come to rely on Battea for definitive guidance on how to maximize participation and potential recoveries in foreign litigation, derivative securities anti-trust litigation and to provide intelligence on special situations like seeking appraisal rights pursuant to a management squeeze-out. Battea has established a team of subject matter experts and researchers who monitor and analyze each newly filed case related to assets in which our clients are interested and to which they have economic exposure.
Specifically, clients have found that Battea’s expertise and research related to securities and FX transactions without CUSIPs and ISIN identifiers have been critical to their efforts to optimize recovery strategies. Substantial developments in antitrust litigation now involve a vast array of exchange- and over-the-counter traded (OTC) derivatives and foreign exchange currency (FX) spot and forward markets regarding rate fixing and spread manipulation. These complications are demanding a much higher and sophisticated level of knowledge and present a set of challenges that cannot be addressed by any of our competitors and the systems they currently employ.
Data Modeling & Loss Calculation
Battea can run a variety of scenarios with the client’s data to help them decide how to proceed in a particular case.
When it comes to choosing the most prudent action concerning securities class action litigation, a client should be well-informed with the necessary information to determine the appropriate course of action. With its proprietary data modeling and loss calculation technology, Battea can run a variety of scenarios with the client’s data to help them decide how to proceed in a particular case. For instance, is the client a good candidate for lead plaintiff, or should they opt-out of case? Battea’s modeling and preliminary loss calculations give clients the intelligence they need to determine the best course of action.
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LITIGATION OPTIONS (OPT-OUT, OPT-IN)
In US securities class action cases, a member of the class is automatically included in the class and eligible for any potential settlements if they meet the eligibility criteria included in a settlement’s Plan of Allocation. In some instances, a potential claimant may decide to exclude themselves from a settlement, or “opt-out.” There are specific opt-out dates articulated for each case. If a client chooses to pursue its own litigation against a defendant, for example, the client would need to opt-out, or they would give up the right to pursue litigation on their own.
Conversely, for international collective actions, or class action-style litigations, one must opt-in, or join the action, early in the process to be eligible to participate in any eventual settlements. This requires a more active role on the part of the investor. In the international collective action realm, Battea helps clients navigate the various options.
GUIDANCE THROUGH SECURITIES LITIGATION PROCESS
Globally monitoring collective action formation and litigation announcements
Battea dedicates significant internal resources to globally monitoring collective action formation and litigation announcements via its own research team and an extensive network of information sources, ranging from information service providers, securities law firms, litigation organizers, legal and business periodicals and various information channels.
The Firm often engages the involved securities law firms, funding parties, associations and foundations in discussions about the potential litigation and its organization for the purposes of assessing the various class action litigation options and providing our clients with relevant information and analysis.
As international litigation experts, we are currently involved in case evaluations in some of the following jurisdictions: Australia, Austria, Belgium, Brazil, Canada, Denmark, France, Germany, Italy, Japan, Netherlands, New Zealand, Portugal, South Korea, Spain, Switzerland, Taiwan and United Kingdom.