A company that traded large positions in several stocks had never received a class action notice or claim form for a case involving a stock in which it had lost a great deal of money. At that point, it was several months after the filing deadline and CCB sprang into action and immediately reviewed the client’s voluminous trading records. Within 24 hours, CCB analyzed the trading records and completed a claim form. CCB then worked tirelessly with the claims administrator to make sure the claim would be accepted. As a result, this company received a check in excess of $200,000.
CCB reached out to a company it believed was eligible to recover under a specific class action settlement. Third party records showed eligible purchases of $200,000. The company decided not to file based on this low figure. The company signed up for CCB’s services and, upon extensive review of the company’s records, CCB was able to increase that $200,000 claim to more than $70 million.
In the Credit Default Swap Litigation, CCB increased recognized damages in excess of 38% for one client by carefully parsing through the records, matching transactions with third party records, and supplementing the claim where appropriate. Additionally, CCB recovered substantial sums for other clients that either did not know they had purchased these instruments or could not provide documentation because the archives did not go back as far as the beginning of the class period.
CCB contacted a large trading firm about using CCB’s services. While the firm had related transactions, it decided not to file a claim because it did not believe it had an eligible loss. After receiving permission to review the trade details, CCB determined there to be a loss and subsequently filed the claim. The ultimate recovery in this instance was $50,000. CCB then reviewed all of the client’s trading data and found many potential additional claims, some retroactive, which resulted in an excess of $10 million in additional recoveries.
A Fortune 500 company that had received a very low recovery for a claim it filed on its own contacted CCB about claim filing services. This client was unaware of the many intricacies involved in this particular case, including the need to file more than one claim. CCB immediately took action and began the claim amendment process in order to submit the necessary documents for the entire claim. As a result of CCB’s expertise and quick action, the client received multiple significant recoveries. Since then CCB has filed claims on behalf of this client in many cases and has recovered hundreds of thousands of dollars on its behalf.
A hospitality client is a class member in multiple antitrust class actions. The client was unable to provide much data to substantiate the claims, as many of the class periods extended well past standard document retention periods. After extensive analysis of the business and working with the client to reconstruct the purchases based on this analysis, CCB has been able to recover in excess of $2.6 Million for this client most notably in the Indirect Polyurethane Foam and Indirect LCD settlements. Additional substantial recoveries are anticipated in the future.
A restaurant chain with over 1,500 U.S. locations was overwhelmed by the claim filing process in the US Foodservice case and hired CCB to manage it. CCB worked with the data, the administrator and class counsel to ensure that all locations were part of the claim, including those that were no longer in operation. CCB’s management of this claim resulted in the client having one of the largest claims in the settlement and it recovered almost $16 million.
SEC Fair Fund Case claims can present challenges for class members that have many thousands of transactions since each line item is scrutinized carefully by the administrator. In one case, we filed a claim for a client with over 28,000 transactions. During the audit process, something CCB handles in each case, the administrator requested the backup for all transactions. We discussed the situation with the administrator and, as a result of our conversation as well as CCB’s experience and reputation for filing well-documented claims, the administrator agreed to accept sample documentation. We recovered almost $2.7 million for our client.