Broadridge Class Action Advocacy Model Case Study

This case study documents Broadridge's involvement in a multimillion dollar securities litigation settlement overseen by a US Federal Court in 2022, where over 20,000 claims were filed for clients. The case involved complexities related to corporate actions, leading to the rejection of over 450 claims by the Court-appointed Claims Administrator. Broadridge's experts identified errors in the Administrator's interpretation of the Settlement Agreement and the Plan of Allocation, which excluded certain shares from FIFO matching. By challenging these determinations, Broadridge successfully reversed the Administrator's decisions, resulting in over $4.5 million in additional recognized losses for clients. The study emphasizes the importance of performing independent recognized loss calculations and having dedicated experts to interpret allocation plans. It also highlights the necessity of being prepared to challenge claim determinations to maximize recoveries, showcasing Broadridge's Client Advocacy model designed to address these challenges effectively.