Why Partner With Rust?
Experienced Team Dedicated to Securities Cases
Clients work with a team dedicated solely to securities settlements. Many members of our team have securities brokerage firm or Wall Street experience and have experience managing all aspects of securities administration. Skilled consultants help determine potential claim rates and settlement structures and continue to bring experience and value throughout the settlement administration. The parties work with a single, knowledgeable point of contact. Teams constantly work to improve processing efficiency, identify areas of risk and keep the parties informed with regular reports.
Faster Claims Processing-to-Distribution Time
Rust can custom design your notice and claims process to ensure rapid claims processing and distribution. Distribution can often take 18 months after notice programs are complete; to meet client needs, we have distributed funds in just six months. Our case-specific, dedicated team ramps up quickly, establishes the processing methodology for the case, and provides quality assurance throughout the claims process—not just at the end, which can add delays prior to distribution.
Quality from Start to Finish
Rust employs a full-time department to oversee quality in every aspect of operations. The team oversees industry standard quality processes, identifies and addresses potential issues, improves systems and processes, tests all calculation and check programs, and reviews and audits databases.
Selected Case Experience
Unprecedented Speed of Distribution
Understanding the parties’ goal of speeding up the claims and distribution process, Rust mailed payments six months after the notice program was complete. This was unprecedented, with securities distributions often taking 18 months after completed notice programs.
Extensive Program Drives Claim Filing Rate
Rust customized claim forms with transaction data up-front to make claims-filing and claims-processing easier for consumers to complete and increasing the processing efficiency. When the parties to the settlement requested that Rust work to drive higher claims rates, Rust conducted an extensive, multi-part outreach program involving mailings and outbound phone calls. The claim filing rate of more than 80% is among the highest claims rates of a settlement of this type.
Among the Fastest Ever Claims Processes
Rust completed the claims processing for this settlement within six months of the claim filing deadline, among the fastest ever claims processes in a private securities case. Rust also provided call center interpreters and foreign currency conversions to assist the large numbers of international class members.
Customized Claim Forms Double Filing Rate
Rust’s work tied together an SEC settlement with the related private settlement. Rust simplified the claims process through the use of customized information on claim forms. The resulting filing rate for claims with customized information was more than double the filing rate of non-customized claim forms.