Recently, we received a call from a fund manager with a problem. He and his staff had filed a claim in a securities class action settlement on their own. They did everything right—they filed a comprehensive claim on time, dotted i’s, crossed t’s, made beginning and ending positions balance—and then they got on with the real work of managing funds and watching the markets. 

Last year, about three years after the claim filing deadline, the initial distribution of the settlement fund finally began. However, the fund manager and his team were not aware of the distribution. Their checks were lost in the mail, and by the time they discovered that a distribution had occurred their checks were not only missing but expired. They called the claims administrator help-line only to be told it was too late for a reissue. 

So, they called the experts. Could the team at Chicago Clearing Corporation help? 

Immediately we called the case manager at the administrator who worked directly on the settlement in question and explained the situation. We next reached out to the lead plaintiff attorneys. We presented all the facts, assured both the administrator and the attorneys that the fund manager and his team had made best efforts to both file their claim and locate their checks. Thanks to our cordial, decades-old relationships in this industry, we were able to get not one but two checks well into the six-digit range reissued within hours. 

Chicago Clearing pioneered the class action settlement recovery industry. We were founded in 1993 to create markets in coupon settlements, so are familiar with the class action world far beyond financial litigations. Likewise, our financial knowledge cannot be beat. Our CEO and founder, Jim Tharin, is a former market maker on the Chicago Board Options Exchange and a career trader. His staff is full of former back-office clearing firm veterans who know markets and know the trading world intimately. Together they have amassed decades worth of claim filing and recovery experience.  

Our combination of legal and financial expertise made us the right choice for the fund manager with the missing checks. We’re the right choice for you as well.