In the final days of summer 2021, Twitter announced it had settled a securities suit first launched in 2016. Typically when parties announce the resolution of a securities class action, the settlement materials are posted to the court docket promptly, often within a month. Shortly after that the judge signs a preliminary approval order, and then within weeks the administrator sends potential claimants the notice packet and posts information to a website-- and claim filing begins.
Not so with this Twitter suit. Though the parties announced settlement on September 20, 2021, the stipulation did not appear on the docket until January, and the judge did not issue his preliminary approval order until August 5. I grew and shaved several beards in this time.
Now, the wait is over. The administrator began sharing the notice and claim form on August 25, and claims are due November 23, 2022. A fund of this size, $809.5 million, is known in the class action trade as a "megasettlement." It has pushed the 2022 pool of funds available to investors over $5 billion.
In the final days of summer 2021, Twitter announced it had settled a securities suit first launched in 2016. Typically when parties announce the resolution of a securities class action, the settlement materials are posted to the court docket promptly, often within a month. Shortly after that the judge signs a preliminary approval order, ... Read More
Case Name: Amazon.com
Court: Western District of Washington
Case No: 22-CV-00617, 2:22-CV-907
Complaint 1. Anticompetitive Practices
“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)."