GLOBAL CLASS ACTION
Top 5 challenges in 2021
Asset recovery via class action litigation is evolving at a rapid pace—becoming increasingly complex while expanding to more jurisdictions. To maximize recoveries, you will need to overcome these top administrative challenges.
Read about the top 10 most complicated asset recovery opportunities in our 2021 Global Class Action Annual Report.
Corporate
actions
Corporate
actions
Multiple
eligible
security types
Multiple
eligible
security types
Complex
instruments
involved
Complex
instruments
involved
Old class
period
Old class
period
Unusually
complicated
loss formula
Unusually
complicated
loss formula
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Download the Global Class Action Annual Report
Learn more about the most complicated class action asset recovery opportunities of 2021.
BROADRIDGE CAN HELP.
The Plan of Allocation used the principle of last-in first-out (LIFO)—wherein securities are deemed to be sold in the opposite order than they were purchased—in the calculation.
• FSD Pharma Securities Litigation
Building an appropriate algorithm to calculate damages required a deep understanding of the legal and economic principles in the Plan
of Allocation.
• Willis Towers Watson Shareholder Litigation
The SSA Bonds Antitrust Litigation net settlement fund is divided into two pools, and different transactions are assigned relative weights based on the transaction amount and time period.
• Government Bonds Antitrust Litigations
ARE COMPLEX LOSS CALCULATIONS ADDING
TO YOUR WORKLOAD? THAT'S NOT UNUSUAL.
Complicated recognized loss calculations increase the amount of time and expertise necessary to accurately calculate each claim’s recognized loss amount. Incorrect calculations can lead to rejected claims and slow challenges to the claim administrators’ determinations. This challenge can also require a more complicated and involved review and quality assurance process to confirm the accuracy and completeness of the claims administrator’s findings.
ADMINISTRATIVE CHALLENGE
Unusually
complicated
loss formula
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Unusually complicated loss formula
Download the Global Class Action Annual Report
Learn more about the most complicated class action asset recovery opportunities of 2021.
BROADRIDGE CAN HELP.
The class period for this case began on
August 1, 2007.
• LIBOR Green Pond Action
The class period began in 1999 for the Silver Fix case, and in 2004 for the Gold Futures action.
• Precious Metals Antitrust Litigations
Both cases include class periods that began over 15 years ago.
• Government Bonds Antitrust Litigations
HAVING DIFFICULTY FINDING OLD TRANSACTION
RECORDS? YOU'RE NOT THE ONLY ONE.
Financial institutions and individuals typically keep copies of statements, broker confirmation and house data relating to their accounts for only seven years. This can make it very difficult for a class member to accurately identify all qualifying transactions and provide supporting documentation when settlement class periods fall outside this period.
ADMINISTRATIVE CHALLENGE
Old class
period
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Download the Global Class Action Annual Report
Learn more about the most complicated class action asset recovery opportunities of 2021.
BROADRIDGE CAN HELP.
This case involved financial instruments based upon U.S. Dollar LIBOR, including asset swaps, collateralized debt obligations, credit default swaps and more.
• LIBOR Green Pond Action
These cases cover both physical gold or silver
(such as bullion, ingots or coins) and instruments
in which gold or silver is the underlying asset.
• Precious Metals Antitrust Litigations
This case involved E-Mini futures contracts and options rather than common stock.
• E-Mini Futures Settlement
This is one of the very first cryptocurrency-related securities class action settlements.
• Block.one Securities Litigation
STRUGGLING WITH THE INTRICACIES OF COMPLEX
INSTRUMENTS? SO ARE MANY OF YOUR PEERS.
Complex instruments impact cases in several ways. Portfolio monitoring is considerably more complicated, and bespoke processes are necessary to identify eligible transactions. Further, claim preparation and filing is more challenging because transactional data is generally in a different format than a normal data extract requiring a significant investment in time to accurately prepare a claim for submission.
ADMINISTRATIVE CHALLENGE
Complex
instruments
involved
Download the report
Download the Global Class Action Annual Report
Learn more about the most complicated class action asset recovery opportunities of 2021.
BROADRIDGE CAN HELP.
These settlements cover a variety of bonds, including supranational, sovereign, sub-sovereign, governmental, quasigovernmental, and agency bonds or debt instruments and various types of Mexican Government Bonds, such as CETES, BONOS, UDIBONOS, and BONDES D.
• Government Bonds Antitrust Litigations
These settlements cover physical gold or silver,
or financial or derivative instruments in which gold or silver is the underlying reference asset.
• Precious Metals Antitrust Litigations
The settlement included EOS tokens, which sold on the EOS blockchain, and ERC-20 tokens, which Block.one sold during a specified time within the class period.
• Block.one Securities Litigation
IS YOUR CASE COMPLICATED BY MULTIPLE
SECURITY TYPES? YOU'RE NOT ALONE.
Although automated portfolio monitoring solutions can identify corporate stocks and bonds, other types of securities require specialized processes and tools. Reasons may include lack of easily traced identifiers, foreign transactions, or the need for bespoke processes to properly identify eligible transactions. Even after transactions have been identified as eligible, it takes additional work to make sure all data is populated properly, in the required filing format, prior to submitting claims.
ADMINISTRATIVE CHALLENGE
Multiple
eligible
security types
Download the report
Download the Global Class Action Annual Report
Learn more about the most complicated class action asset recovery opportunities of 2021.
BROADRIDGE CAN HELP.
In connection with separate mergers, AR Capital
and certain officers allegedly inflated an incentive fee calculation to obtain ARCP operating partnership units to which they were not entitled.
• AR Capital Fair Fund
This case involved alleged material misrepresentations and omissions in proxy solicitations related to the merger of Towers Watson & Co. and Willis Group Holdings plc.
• Willis Towers Watson Shareholder Litigation
The settlement class includes parties who acquired Allergan common stock from mergers with either Forest Laboratories or Actavis.
• Allergan Generic Drug Pricing Securities Litigation
CHECK OUT THESE CASES TO UNDERSTAND
HOW CORPORATE ACTIONS CAN IMPACT
THE VALUE OF A CLAIM.
Because of the inconsistent nature of transactional records associated with shares acquired pursuant to a merger, separate reviews are needed to ensure proper categorization according to case requirements. Failure to adequately identify shares acquired via a merger can cause a claim to be found ineligible or of lower value.
ADMINISTRATIVE CHALLENGE
Corporate
actions
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