CLASS ACTION LITIGATION: OPT-OUT MARKETS
Real-time analysis of client trade data also arms clients with the information needed to determine whether or not they should opt-out of a specific case
For Opt-Out class action litigation – predominately U.S./Canadian securities litigation, Battea’s Portfolio Monitoring matches its extensive database of newly filed class action litigations against client’s portfolio holdings. Utilizing patented, proprietary search technology and supreme domain expertise, Battea prepares a summary (overview) for each case filed and prepares ad hoc economic analyses for each client impacted by the litigation or eligible to file a claim against a settlement fund. This enables clients to stay abreast of pending litigation as it relates to their holdings and where applicable, to determine if clients are suitable and/or interested in pursuing a more active role in the litigation by serving as lead plaintiff. Real-time analysis of client trade data also arms clients with the information needed to determine whether or not they should opt-out of a specific case. At a minimum, clients are kept well-informed of developments in these litigations as they move through the litigation lifecycle. Of course once a case has settled, clients can track the progress of the class action settlement, filing deadlines and status of distributions through the client portal.
INTERNATIONAL COLLECTIVE ACTIONS & OPT-IN MARKETS
Battea provides our clients with as much information as possible to support their potential opt-in
Battea provides services related to collective action litigations filed or contemplated to be filed in jurisdictions spanning the globe. Battea’s goal is to help clients navigate and arrange the various opt-in and filing requirements for litigations and settlement opportunities outside of the United States. We track potential litigation in all of its various phases. We help clients decipher and understand the distinctions that exist between various litigation options presented by law firms, coalitions and funding agents. This includes interviewing the law firms or coalitions regarding their legal approach and the investor participation requirements and terms.
Providing its clients with as much information as possible to support their potential opt-in, or other litigation decisions, as it relates to the differences in approach and potential opportunities or risks associated with different litigation and coalition choices in different cases, is a core objective for the firm.
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ANTITRUST LITIGATION MONITORINGS
Battea’s litigation research team leverages working relationships with attorneys who file antitrust cases and review all press releases and publicly available sources for antitrust securities class litigations
According to the U.S. Department of Justice, federal antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade, such as price-fixing conspiracies, corporate mergers likely to reduce the competitive vigor of particular markets, and predatory acts designed to achieve or maintain monopoly power. To support its clients, Battea’s litigation research team leverages working relationships with attorneys who file these antitrust cases and review all press releases and publicly available sources for antitrust securities class litigations.
Clients soon discovered the value of working with Battea’s top expert researchers and analysts in filing claims against a settlement fund related to Credit Default Swap (CDS) spread manipulation. CDS instruments primarily trade over the counter and without central clearing repository records regarding these transactions (as was this case for a significant portion of the class period). On the surface, it seemed that many of Battea’s clients would file incomplete claims and some would even have been excluded from filing a claim, if they simply followed the instructions outlined in communications from the claims administrator.
However, Battea researched this matter extensively and found their clients would leave vast amounts of their money on the table if these initial instructions were followed. As a result of Battea’s research and understanding of how to search for these types of securities transactions, Battea filed significant challenge claims against the $1.86 Billion settlement fund thereby enabling eligible clients to file claims for their full value.
We fully expect that the upcoming foreign exchange (FX) and interest rate rigging litigations will require similar expert analyses and diligence in filing against any settlement funds. Battea’s domain expertise in FX and interest related trading markets and technologies is unparalleled amongst its peers. Battea’s clients filing claims for these settlement funds will benefit from their supreme expertise.
MERGERS & ACQUISITIONS
Every merger and acquisition litigation filed could potentially impact your portfolio
The likelihood of a merger or acquisition being subject to litigation has skyrocketed in recent years. In fact, it has been widely reported that nearly every deal involving a public company gets challenged in court soon after announcement of the transaction.
Because every merger and acquisition litigation filed could potentially impact a client’s portfolio, Battea’s in-house research team monitors and tracks all newly filed merger and acquisition litigation and prepares a brief overview for each and every case filed.