New York, February 11th, 2010, Thomson Reuters today announced that it will offer securities class action claims filing capabilities as part of its enterprise-wide investment accounting system. The solution will be delivered in collaboration with Global Claims Filing Limited (GCF), a leading provider of securities class action data, research and claims filing services.
Thomson Reuters PORTIA provides comprehensive investment accounting management capabilities for asset managers worldwide that will now offer an inclusive, automated claims filing solution through GCF.
Used by more than 300 investment managers in 45 countries managing assets worth more than US $15 Trillion, Thomson Reuters PORTIA is a highly scalable solution which boasts flexible deployment options. GCF calculates the recognized loss for each settlement in order to maximize the client’s recoveries, helping to boost the performance of their portfolios.
More than $42 billion has been available to investors in securities class action settlements in the past five years and there is more than $11 billion in settlements currently available to investors. The consolidated solution from Thomson Reuters addresses the issue of clients leaving billions of dollars on the table each year. Thomson Reuters and GCF together deliver an automated securities class action service that can ensure that clients’ recoveries in all settlements are maximized, while helping reduce operational risk.
“A large percentage of securities class action claims are never filed, so it is our goal through this collaboration with GCF, to make clients aware of securities class actions and to simplify the claims filing process,” said Christy Bremner, Global Managing Director of PORTIA, Thomson Reuters. “Using Thomson Reuters PORTIA and GCF, clients can leverage this relationship to have the ability to demonstrate their commitment to recovering claims to which their clients are entitled.”
“We look forward to working with Thomson Reuters to provide their PORTIA clients with a comprehensive securities class action claims filing solution,” said Michael Egan, President, GCF.
“By outsourcing the claims filing process, GCF enables its clients to recover significant amounts of money for their clients, to concentrate on their investment performance, and relieve their back office from a time consuming and tedious process,” said Kevin Brady, Chief Executive Officer, GCF.