If you've been having trouble preparing a claim in the $2.31 billion Foreign Exchange Benchmark Rates Antitrust Litigation, you’re not alone… and you’re in luck. The claim filing deadline has been extended from March 22 (oh no, tomorrow!) to May 16 (phew!).
But of course, if you've been having trouble preparing an FX claim, or simply put it off, what you should really do is give us a call! Chicago Clearing has been preparing claims in this litigation for months for a wide variety of investors. We can help you find all the relevant trade data and ensure you do not miss out on any portion of your potential recovery. We can also organize this data, no matter how arcane or unwieldy, and file it for you in a timely matter.
A unique aspect of this litigation is the breakdown of the class period between a known transaction period and an unknown, estimated period. According to the Plan of Distribution, “Settling Defendants have produced transaction data generally covering the time period January 1, 2009 to December 15, 2015; some of the Settling Defendants have produced data for additional years; and some have produced data for fewer years.” Considering that the class period begins in 2003, that is potentially more than six years of missing data. Claimants have the right to accept this estimate or to submit supplemental data from the unknown period.
Should you accept the claims administrator’s estimate?
Many, if not most, claimants would benefit from an audit of the estimate. The potential upside could be enormous. Recently, CCC audited claims for over 75 claimants in the Credit Default Swaps Antitrust litigation. It was a similar case: a prepared claim form, and an option to accept or reject the estimate. CCC submitted revised claims for 160 claimants and recovered over $50 million. Nearly $10 million of that was thanks to our review and analysis. (We also saved the back-office hassle of data retrieval, revised claim filing, and administrator correspondence.)
CCC has audited claims in many complex antitrust and securities litigations. Our team helps investors maximize their settlement awards in over 100 cases per year. When you turn to CCC, you turn to the experts.
Call us today, and we’ll ensure you make the May 16, 2018 deadline. Even better—we will ensure you get the recovery you deserve.