The Problem: Most Money from Class Action Settlements Goes Unclaimed

Each year, class action settlements make billions of dollars available to be claimed. Most of the available money from these settlements is derived from securities and antitrust class action lawsuits. The class members with the largest claims in these matters are financial institutions and industrial businesses, respectively. Aside from the opportunity to recapture revenue from these settlements, institutional investors, in line with best practices, hold a fiduciary responsibility to keep up to date on lawsuits involving investments they made on behalf of their clients. The class action claims filing process is complex, resource intensive, and often overlooked. As a result, despite the sophistication of financial institutions and industrial businesses, a large percentage of class action settlement monies — estimated to be as high as 65 percent of available funds — goes unclaimed every year.

Research has found that large institutional investors routinely fail to file claims in securities class actions, and large industrial purchasers of price-fixed products routinely fail to file claims in antitrust class actions. Often a company’s decision makers never receive notice of the funds that are available to their respective companies. As a result, financial institutions and other industrial businesses simply fail to collect hundreds of millions of dollars to which they are entitled on an annual basis.

Why does so much money remain uncollected? For four main reasons:

  • Class members are often not aware of their rights because they did not receive a notice of the settlement.
  • Even if notice is received, it is either too difficult to interpret or does not reach a proper decision-maker of the company to which funds are owed.
  • The class member concludes that filing a claim will be too burdensome or offer little financial benefit.
  • A claim is filed but initially denied by the settlement administrator, and the class member does not take the necessary steps to challenge the denial.

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CM&R seamlessly solves each of these problems for our clients and captures the money to which they are entitled.

Our Solution

CM&R monitors every securities and antitrust settlement reached in the United States and worldwide. Whether our clients receive notice of a settlement or not, we immediately contact the client if we believe it may have a right to a claim. Normally, eligible claimants are narrowly and precisely defined, so a quick consultation with the client is enough to confirm claim eligibility. Once it is determined that the client is an eligible claimant, we undertake all work necessary to research, prepare, and submit the claim. Once the claim is submitted, we continue to pursue the claim until it is granted, including communicating with the settlement administrator and addressing any questions and requests for further information the administrator may have.

With respect to our claims filing service, we work on a contingency basis.  We do not get paid unless we recover money for you. We handle the work involved in submitting claims and pursuing them to approval. We offer a low-cost way of making sure that you receive all the money you are due from class action settlements.

Our Experience

Our team of attorneys and industry experts have recovered millions of dollars on behalf of class members and have decades of experience with class action settlements. We have submitted claims in numerous class actions and are intimately familiar with the claims process. Our team includes class action litigators who have been involved in every step of the claims process and understand all aspects of class action cases because we have litigated them from their inception all the way through to the distribution of settlement monies. In short, we know class actions and how the claims process works.

As entrepreneurs, we also understand what value added means to a business. This is why we work on a contingency basis with respect to claim recoveries, are flexible in our approach with respect to consulting, and constantly seek to minimize any work clients have to do in preparing claims. We are driven by results for our clients. CM&R presents an outstanding value to financial institutions and other businesses that want to make sure that they are recovering all monies available to them from class action settlements.