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Blue Bell, PA 19422
800.835.1547 (phone)
610.834.9014 (fax)
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CCB In The News
Claims Compensation Bureau, Inc. Recovers Over $39 Million On Behalf Of Clients In The Nasdaq Market Makers Litigation BLUE BELL, Pennsylvania January 9, 2001 - Claims Compensation Bureau (CCB), a consulting firm specializing in recovering funds on behalf of stock investors, successfully recovered over $39 million on behalf of over 500 of its clients in one of the largest securities class action settlements in history. After examining the details of the $1 billion Nasdaq Antitrust Litigation, CCB jumped into action, realizing that many of its clients were eligible to recover large sums of money. There were several complexities to this case which made it more difficult than usual to file large claim forms. For example, over 1,600 securities were involved and each security had its own eligibility period. In addition, all large claims were required to be filed using a detailed electronic claim process. Even though the Court supplied shareholders with a record of some of their trading activity, there was a danger of numerous trades being missed if a shareholder had multiple accounts over the 7 year time period of the case. Therefore, we went to extraordinary measures to make sure that we claimed every possible share for our clients. Word of our work on this case spread through the investment community and we were contacted by hundreds of investors requesting our assistance in filing their claims. We meticulously compiled our clients' trading records from every available source, including the claims administrator, computerized records from clearing firms and our clients' paper records. We then converted each of the records to a common format, keypunched tens of thousands of trades from manual records, combined them into one electronic file for each client and sent in the claims. Over 99.8% of the shares we claimed on behalf of our clients were eventually approved by the Court. In January, 2001, our clients received their checks and were overwhelmingly thrilled with the amount of funds recovered on their behalf. |
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