Snap - State Court Settlement
Total for both funds: $187,500,000
Investors are receiving notices this week for not one but two securities settlements for Snap, the parent company of Snapchat. What gives?
Well, they got sued twice—once in California State Court and once in Federal Court. But in these cases you can kill two birds with one stone. That is, you can file two claims with one claim form that will let you participate in both settlements.
Well, YOU don’t have to file a claim if you are a Chicago Clearing Corporation (CCC) client. You can think of CCC as the stone that kills all the securities class action birds.
There are over 100 new securities class actions every year. That’s a lot of cases to keep up with, a lot of federal and state courts to monitor, and a lot of claim forms to send to a lot of claims administrators. CCC is your one stop shop for all of it. We will even tell you what each case is about. For example…
Both the state and federal Snap litigations centered on the same allegations—that Snap mischaracterized the quality of its daily active users and the growth of new users as it approached its IPO. When the real numbers were revealed, Snap's stock stumbled from over $27 to under $12. Defendants deny the allegations. The claim form, which again covers both state and federal court, is due on January 25, 2021.
Now imagine there were a magic claim form that covered not only these two settlements about, oh, 109.6 financial class action settlements per year? Imagine if you never had to worry about what the actual deadline was? Imagine you never had to take a break from your daily duties to even file a claim?
What you are imagining, my friend, is being a CCC client.
Willis Towers Watson
Earlier this year Snap settled two parallel li... Read More
Chicago Clearing Corporation (CCC) cordially invites you to a webinar on international securities and antitrust litigations. On Monday, December 14, at 10:00 AM Central, CCC’s President and General Counsel Brian Blockovich will moderate a presentation by Guus Warringa, Director of Institutional Investor Relations at the law firm Grant & Eisenhofer, ... Read More
Morgan Stanley Fair Fund
Santander Consumer USA Holdings
“I could go on and on, but bottom line, the fees being charged are much less than what I was spending in house to file and this is just one less thing I have to spend time trying to figure out how to complete on a consistent basis. Dealing with the CCC staff has been a very positive thing.”
“We were spending countless hours on class action claims before we signed on with CCC in January. Matt Murray and their technical team ensured our data transmission was seamless and secure. We found everyone at CCC to be professional, courteous, and accommodating.”
“Signing with CCC has made a huge difference. Before, it was horrible. We had to print thousands of pieces of paper, invite clients to come in and sit down with us to show them where to find the transactions, how to input them into the Proof of Claim forms. Now it's simple. It’s very nice to be able to tell our client, “You can shred that Proof of Claim form because CCC has it taken care of.”
Registered Investment Advisor
“Your client reporting portal and customer service is the reason we chose Chicago Clearing. I send the data on an annual basis to CCC and they take it from there. My clients are protected (if there is a class action, it is getting filed), the Bank is protected (we are meeting our fiduciary obligation by filing the claims)."