Financial Recovery Technologies is a technology-based services company which exclusively focuses on enabling investment management firms to maximize the recovery of client funds while simultaneously lowering their operating costs. Through our proprietary technology platform and processes, we deliver the most comprehensive range of securities class action filing services available.  Our firm excels by providing best-in-class eligibility analysis, disbursement auditing and client reporting, and we deliver the highest level of accuracy, accountability and transparency available.

How Financial Recovery Technologies manages securities class action filings:

There are many stages where errors or omissions can occur in the filing process that can cause valid claims to not be paid. At FRT, we create value for our clients by delivering the highest level of accuracy as a result of being exclusively focused on recovering funds from securities class action settlements.

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There are essentially four primary stages in the class action claims filing process: Identification, Analysis & Matching, Filing, and Allocation.

Identification

Financial Recovery Technologies proactively scours many industry data sources in order to identify all cases and to ensure that every possible filing can be made. This is in contrast to many back-office operations that are reliant on receiving and reacting to paper notifications which can be easily missed or sent to the incorrect address.

Analysis & Matching

Once FRT receives data, we electronically compare the client's trading history against our proprietary database to ensure that all relevant matches are evaluated against open securities class action cases and that filings are properly prepared. In order to be able to do this, the integrity of the data must be at the highest level. FRT is expert at preparing trade data for comprehensive analysis. Filings with inconsistent transaction codes or data are routinely rejected by claims administrators, often without notification to the filer. Once the data has been corrected and normalized, the filings must be prepared to reflect the exact specifications of that claim's particular plan of allocation.

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Filing

Once all of the applicable investment positions have been identified, matched and validated, the appropriate filings are prepared and submitted to claims administrators. FRT's strong relationships with claims administrators have allowed us to learn exactly what they require for each filing to be considered complete and acceptable. These well-established relationships have also given us a favorable reputation and a basis to dispute an administrator's calculations when we believe them to be inaccurate.

Allocation & Reporting

When the time arrives for the claims administrator to distribute the settlement funds, the importance of FRT calculating the recognized loss for each and every claim becomes self-evident. This allows FRT to confirm that amounts that the claims administrator pay are correct and are properly allocated to each individual fund correctly. Finally, the value of FRT's approach is underscored by providing each client with detailed, regularly distributed reports, which provide a complete accounting and audit trail for future reference. 

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Please contact us to obtain sample reports.