Law360, New York (July 08, 2014, 10:43 AM ET) —By Jon Orr, CAC Recovery LLC
Within corporate America, companies and their legal teams invest substantial time and resources into preventing and defending potential claims resulting from class action litigation. Surprisingly, however, there exists a significant lack of awareness and focus among corporate executives regarding claims their companies may be entitled to within antitrust class action settlements. Each year, millions of dollars are left unclaimed by class members who fail to file a claim in an approved antitrust class action settlement. Furthermore, companies often encounter pitfalls and oversights in identifying and pursuing antitrust class action damages, as the filing process can often be burdensome and time-sensitive.
There are a multitude of reasons why large companies do not identify or file claims within antitrust settlements. Lack of awareness among companies that are eligible class members is one common barrier. The complexities of the class action claims filing process and the associated deadlines also can be a deterrent to successful claims recovery. And, in other cases, companies may have identified a potential claim, but cannot estimate the potential recovery from the settlement, and therefore cannot provide or conduct the cost-benefit analysis to support allocating resources to pursue the claim.
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