About CCC

  • 1992
  • The Beginning

    In the summer of 1992, a Chicago Board Options Exchange market-maker named James Tharin went on the Injured Reserve List. This was in the days of open outcry trading, and a packed trading pit was not the best place for a man with a broken leg. It was also before the age of streaming internet trading platforms. So what's a trader to do when he can't trade and no one's around to sign his cast?

    ["Wait, how'd he break his leg?" The tale involves espionage, attack helicopters, and a secret diamond mine in the Swiss Alps, but that's a story for another time.]

    Fortunately, Jim was not sidelined for long. A friend called his office with a problem: there was a settlement in the BMW M5 Litigation where the class members received discount coupons on future BMW purchases. Might Jim have an idea for how to create a market for such coupons? Some may not want to go out and buy a car any time soon, some may not want a BMW ever again. Yet the court says these coupons must have a fair market value, so...

    CCC was born.

  • 1993: An idea takes off

    CCC was incorporated in 1993 (back then as Certificate Clearing Corporation). Over the next two decades, CCC created markets in 18 different class action settlements and helped claimants recover close to $200 million, very often in cases where they would otherwise received nothing.

    No case was too small or too complex. In the AT&T litigation, we created a market for $50 phone cards. In the Sotheby's and Christie's Auction House's Litigation, we created a market for discounts on art and antiques sold at auction; many of these auction house certificates were priced well into the six figures. Many of our clients lived in castles. Seriously.

    Though the firm has shifted its focus to securities class action recovery, CCC remains the firm of choice in coupon and certificate settlements. For instance, we will soon be administering and creating a market for coupons in the Korean Air Antitrust Settlement.

  • 2005
  • Shift to Securities Class Action Claim filing

    In 2005, Jim received a notice in the Options Antitrust Litigation naming him a defendant in the Options litigation, along with every other member of every other Chicago Board Options Exchange. However, neither Jim nor his financial entities were members during the entire 12 year class period. So, he argued to the plaintiffs’ attorneys that he and other traders in such a position should be eligible to submit their trades during the years they were non-members, and thus participate in the settlement as claimants. The attorneys agreed and he was able to seek recovery as a class member.

  • 2000 Cases Later

    Today, Chicago Clearing Corporation is the premier securities class action claim filing service in the United States. Since 2005, our client base has grown from one client (some guy named Jim Tharin) to over 1,100. We've helped our clients recover $120 million since 2009 alone. We have tracked close to 800 distinct settlements, and another 1,200 cases pending within the US and international court systems.

    Jim's dual expertise in financial markets and class action settlements is not the only basis for CCC's success. The firm is driven by people who either share or accentuate his unique blend of experience.

    There's Brian Blockovich, President and General Counsel, who joined the firm in 1995 and co-authored (with Jim) Coupons and the Class Action Fairness Act for the Georgetown Journal of Legal Ethics. He bridges the sales and operations department and ensures that we deliver the best financial tools in the class action recovery market place.

    There's Bill Tomczak, who joined in 2008, brought his Master's in Financial Markets and fifteen years of compliance management acumen with him.

    There's Frank Petersen, Senior Account Executive, who has over a quarter century of financial consulting experience at large wire house firms, including Merrill Lynch, Morgan Stanley, and EF Hutton. He joined the firm in 2010, bringing yet more depth to our understanding of a busy advisor's needs.

    There's Dave Grondy, our Data Operations Manager, who has another quarter century in the financial sector. Dave knows data like few in the business, having managed data integration projects since the mid-1980s for firms as diverse as the New York Futures Exchanges and Dow Jones & Co.

    And that's just a few players on the CCC bench. When you outsource securities class action claim filing to CCC, you get access to friendly, knowledgeable experts like Jim, Dave, Frank, and Brian. Every day, they are just a phone call away. And every day their unique expertise guarantees two things: first, that we will maximize your settlement recovery. Second, that we will free you up to focus on you core competencies, not on claim filing.

    Hire Chicago Clearing Corporation, the only class action service with the history, the expertise, and the team to serve you best.


More News from the Class Action World



Did you trade debt securities of government sponsored enterprises (aka GSE bonds) between 2009 and 2019? If so, you may be eligible to participate in an antitrust settlement.

Plaintiffs allege that the defendants (see full list below) conspired to fix prices of unsecured GSE bonds issued by Federal ... Read More

Case Name: Akorn 2019 Securities Settlement

Settlement Fund: Between $53.6 million and $155.4 Million

Claim Filing Deadline: January 24, 2020

Class Period: 11/3/2016 – 1/8/2019

Read More

Endo International... Sound familiar? Earlier this August we posted a blog with a similar title “Endo International Settles Securities Settlement for $50 Million.”

So what’s the difference? Aside from $32.5 million.

The first settlement pertained to declining demand for Endo’s generic drugs and also alleged th... Read More

Investors in American Realty Capital Properties (ARCP), now known as Vereit, may be eligible for a massive settlement that could pay as much as 50% of damages. Given that the typical recovery is just 2%, this is great news for harmed ARCP investors.

What is this case about?

ARCP was an investment services firm fou... Read More

Case name: Puma Biotechnology

Verdict award: Up to $4.50 per damaged share, total award TBD

Claim filing deadline: 1/28/2020

Class period: 7/22/2014 – 5/29/2015

 

This week saw the rarest of rarities, a veritable solar eclipse o... Read More

Case name: SanDisk LLC Securities Litigation

Settlement fund: $50,000,000

Claim filing deadline: 9/12/2019

Class period: 10/16/2014 – 4/15/2015

Definition of class from settlement notice: “If you purchased or otherwise a... Read More