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

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