Veritas Advisory Group, Inc.’s professionals have assisted counsel and client companies with numerous class administration services. Our experience on these matters ranges from class sizes of less than 50 and up to 50,000 members. The types of services we have performed are as follows:
Assistance with Class Certification — Our professionals have submitted affidavits regarding class certification requirements.
Identification of the Appropriate Class Period and Population of Potential Class Members — On securities matters, we typically utilize the transfer agent records to estimate class size and to obtain addresses for potential class members.
- Prepare and Distribute Notice and Response Cards for Potential Class Members — Veritas has a network of vendors we utilize for bulk mailing services.
- Information Management — We have prepared numerous databases to house claimants’ mailing and transactional information. These databases are used to print mailing labels and form letters, calculate and allocate damages, and to print checks and 1099 forms. Depending on the size of the class, we will either perform the data entry in-house or outsource to a data entry facility.
- Class Administrator — Veritas has served as the repository for all claimant information and has performed and coordinated virtually every facet of communicating with the class members.
- Assist with Fairness Hearing — Members of Veritas participated in a hearing to approve recommended settlements and attorney’s fees. Part of our efforts included preparation of Plans of Distribution and a Damage Allocation Table.
- Claims Processor — We have assisted counsel with both the preparation of Proof of Claims Forms and the verification of returned forms.
- Develop and Process Cure Notices for Deficient Claims
- Serve as a Distribution Agent — Veritas has served as the distribution agent for a class action settlement. We worked with the escrow agent and counsel to oversee the distribution of settlement monies to the class members.
- Provide Interim and Final Accounting Services — Veritas has performed both functions for the court on the account during the settlement distribution process.