A class action is defined as a legal action taken by a representative to send a lawsuit on behalf of other persons or entities that are in the same or similar circumstances. This is a lawsuit that is leveled when multiple people have been dealing with unlawful behavior by a company or an individual.
A securities class action is a lawsuit filed by a person or an entity that purchased the company’s debt or equity securities, one criterion meaning that this individual has suffered economic pain.
Filing a securities class action claims processing is helpful to shareholders that have the ability to set up litigation to their claims on playing field that is level enough so that the large, and well-funded corporations that may have violated existing securities laws, using class action claims to process to get this filing underway.
Class Action Claims Management was founded in 2001 and is a provider of securities class action data because CACM has learned to provide class action lawsuits and settlements, that allow clients to take control of their claims filing process for themselves. CACM seeks to maximize the financial return for the clients.
Financial Recovery Technologies offers a solution as to how to file a claim. An FRT professional will try to calculate your losses while filing any class action claim. This company is another leader in class action claims processing.
CACM and FRT provide action claims filing, with a turnkey claims filing solution. In general terms, a class period is the period of time entities were engaged in wrongful conduct. The class period may be lengthened after the complaint is filed but this is largely dependent on the facts and circumstances of the case at large.
The company that is classed as the defendant, during the specified class period, requires that you purchase the securities of a company involved in a class action. A security is defined as something you have to purchase, namely stock, in a company that is publicly traded.
Settlements worth billions of dollars are reached during securities class action lawsuits that make the defendant at least $50 billion that is paid to investors in the past five years. CACM specializes in class action research and claims filing for institutional investors and gathering the client’s trading data as well.
CACM searches the client’s trading records to determine settlement eligibility while preparing files in specific kinds of electronic filing formats that are available using today’s technology.
CACM also tries to calculate how much the claim will lose given that there is a good Plan of Allocation. Securities are proof of ownership or debt that valuable enough to be sold for the good of the company. Examples of securities can be stocks, bonds, or other options. CACM provides online reports to its clients on claims that have already been filed.
CACM provides major data for each class action, data such as the company issuer/name, security ID numbers, class dates of the wrongful action occurring, plaintiff deadlines, hearing dates, settlement amount, a description of the lawsuit/settlement, and Plans of Allocation are also filed.
CACM also provides downloadable claim forms, with the Claims Administrator’s contact information provided, along with Class Counsel contact information also.
In order to understand a securities class action, and your participation in it, you have to see that the shares you purchased during the time where the class period is covered.
There are several law firms involved in any class action litigation scenario since there are different shareholders interested in the same action but the court will hear it as only one action.