The Securities Class Action Claim Filing and Settlement Award Recovery Service for BDUG members

September 24, 2013

Presented by:

Brian Blockovich- President and General Counsel

                  

  

Who is CCC?Who is CCC?

• Founded in 1993 to make markets in class action coupon settlements

• Transferred expertise to claim filing in 2006 and is now the premiere claim filing service

• 1038 clients represent over 2M investors with AUM exceeding $2T, yes trillion

• CCC has received over $110M dollars for clients since 2009

• Clients include trust companies, bank trust departments, investment advisors, brokerage firms, hedge funds, proprietary traders, mutual funds and pension funds

• CCC partners with SunGard, FIS, Innovest, Infovisa, Accutech, Advent, Schwab, TD Ameritrade and Orion to name a few

• Expert, committed staff

CCC’s Numbers and Top 5 Clients CCC’s Numbers and Top 5 Clients

2012

•845 clients

•450,000 individual investors

•$620B AUM

•400 Bank Trust Clients

2013

•1,038 clients

•2,000,000 individual investors

•$2T AUM

•450 Bank Trust Clients

Client Type AUM No. of Accounts

1 Foreign Asset Manager $972,225,000,000.00 350,000

2 Trust Consolidator/Custodian $113,000,000,000.00 30,000

3 Trust Company/Custodian $29,036,974,812.00 79,266

4 Hedge Fund $27,346,160,000.00 16

5 Hedge Fund $21,991,189,827.00 141

CCC PartnershipsCCC Partnerships

Bank Trust Software

•SunGard

•Charlotte

•AddVantage

•Global Plus

•FIS

•Infovisa

•Innovest

•Accutech

•HWA

RIA/Hedge Fund

• Advent

•Schwab

•TD Ameritrade

•Orion

•Market76

•Shareholders Services Group

•JD Clark (affiliate of UMB)

Typical Claim Filing ExperienceTypical Claim Filing Experience

• You receive a class action notice

• You cringe knowing the work ahead

• You research the Cusips (if known) and the date range for activities in your accounts

• If the class period pre-dates your current software system, you face the clumsy and laborious task of retrieving data from disks or legacy systems

• If acquisitive, your acquisitions’ trade data must be integrated also

• Dealing with deficiencies could take twice as along as the filing

• Distributing settlement proceeds to closed accounts is problematic

• Can and should you outsource claim filing? The answer is YES!

Why Outsource Securities Claim Filing to Why Outsource Securities Claim Filing to CCC?CCC?

• Captures all claims, for all clients, for every case

• Manages entire process from notice to distribution

• Transforms painful task into easy and user friendly process

• Enables efficient use of internal resources

• Satisfies fiduciary duty to your clients

• Accommodates all client concerns

4 steps to becoming a CCC Client4 steps to becoming a CCC Client

Client signs CCC’s one page Agency Agreement

Step 1

Step 2

Client conducts vendor review

Step 3

CCC conducts client intake meeting to kick off the service

CCC works with client to retrieve historical data to file claims

• If you are a client of a current CCC partner, you may use the partner’s simple and free extract or interface (if

applicable).

• For legacy data or non-partner platforms, CCC will provide data template and guidelines for easy data

export

Step 4

Data Integration and Filing ClaimsData Integration and Filing Claims

CCC integrates data into its proprietary database

• CCC is SOC1, Level 2 certified

CCC begins filing claims

• Database then pinpoints specific qualifying trades

• Initial “Hitlist” is prepared identifying potential claims in trade history

• CCC files late and current claims electronically on behalf of client

• CCC communicates with all administrators regularly regarding claims

• CCC reports claim status to client online

CCC’s Client Web PortalCCC’s Client Web Portal

• Notifications• BOI• Data Updates• Pending Allocations

• Pending• Settlements• Newsletter• Account Hit List• Claims Filed• Accounts• Claim Data• Checks Paid• Allocations

DistributionDistribution

• CCC receives settlement proceeds

• Reconciles claim and deducts fee (if contingency), sends net proceeds

• Cuts one lump sum (check, wire or ACH) with account breakdown

• Distribution costs included in CCC’s fee

Q&A Discussion Q&A Discussion

Time for Questions!

Come by the Booth Come by the Booth

• Get a link so can try the demo on your own

• Sign up for special webinar for BDUG members on Friday, October 4 at 1PM CST

• Get more popcorn (if there is any left!)

Thank you very much