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Class Actions

In the post-Sarbanes-Oxley environment, corporations, financial institutions, and accounting firms are being held to a higher standard. In recent years, turmoil in the financial markets led to a large increase in the number of securities class actions cases being filed. Tracking these developments is an important part of investing or investment servicing. It has been reported that a large portion of the settlement proceeds go unclaimed because investors are not filing eligible claims, leaving millions of dollars in unrecovered funds.

Interactive Data's Class Actions service can help monitor these events and track the outcome of the litigation. Whether your business holds securities as principal or in trust, you have a professional interest and possibly a fiduciary obligation to identify, track and collect settlement proceeds from these cases.

Interactive Data’s experienced staff researches securities class actions on a daily basis, using a wide variety of sources, including dedicated court systems, plaintiff counsel and litigation Websites, claims administrators, newswire services, periodicals and law firms. This information is used to identify impacted securities and for each case filed, we issue an instrument level notification that contains critical information, including security identifiers. Each case will also include court dockets and claim forms necessary for filing purposes.

The Company’s dynamic Web-based service offers unique access capabilities including a listing of new cases, settled cases with filing deadlines, watch lists for tracking specific cases of interest, and portfolio tracking for monitoring holdings. In addition, Interactive Data offers a full universal file service of new and amended cases in our proprietary format, as well as in ISO 15022 standardized messages.

Interactive Data’s Class Actions Service:

  • Provides coverage of securities class action litigation from initial filing through disbursement of funds
  • Features an easy-to-use Web-based application that provides tools to monitor and track class action cases
  • Delivers class actions data in ISO 15022 format, reducing the risk of incorrect interpretation of data and helping with downstream processing
  • Provides historical content going back nearly 20 years on a number of class action items, including class status, class period and class description
  • Offers watch lists, portfolio monitoring and customizable reporting including email reports to help you respond quickly to new developments