ISS SCAS Product Launch Comes as 2020 Forecasts to be Banner Year for Settlement Recoveries
ROCKVILLE, Md. (May 26, 2020) – Securities Class Action Services LLC (ISS SCAS), a subsidiary of Institutional Shareholder Services, today announced the release of significant enhancements to its industry leading RecoverMax platform that will improve transparency into the settlement pipeline and further streamline the recovery process for institutional investors.
Investors, custodial banks, law firms, and other subscribers receive real-time transparency into the settlement recovery process through RecoverMax’s new interactive and customizable dashboards. A reimagined design allows users to quickly monitor upcoming settlements, claims filed, recoveries, and disbursements. Personalized dashboards detail the user’s recovered claims and filings, displaying user-defined charts and graphs that bolster the site’s visual aesthetic. Case profiles present each class action with details and underlying data in a well-organized and meaningful way. Clients can personalize the dashboard to track yearly litigation recovery totals, pending claims, and upcoming cases in their chosen jurisdictions.
Notably, RecoverMax enhancements include universal search capabilities, saving users significant time and effort with both basic and advanced searches. Users will also find more intuitive page layouts that bring essential data to life including re-designed case profiles that can be immediately saved as camera-ready, PDF documents.
“The close relationships we have with our clients allowed ISS SCAS to better deliver what our users desire and need from a client portal,” said Ivar Eilertsen, Head of ISS SCAS. “With this new release we are delivering a transformative, state-of-the-art solution that improves our clients’ workflows and productivity through personalized dashboards, enhanced and added functionality, seamless navigation, intuitive search criteria, all of which is delivered through a brand new interface.”
ISS SCAS offers complete end-to-end securities class action litigation research and claims filing solutions covering the equities and fixed income markets. It is also the premier source for data and analysis on securities class actions internationally as well as for the U.S. As of May 1, ISS SCAS tracked global case recoveries of approximately $4.4 billion spread over 74 cases that settled. By comparison, 2019 saw in sum just $3.3 billion from 111 settlements. Meanwhile and in the U.S., 160 federal claims filed thus far in 2020 appear poised to surpass last year’s total. This figure now includes five—Norwegian Cruise Line Holdings, Inovio Pharmaceuticals, Zoom Video Communications, Phoenix Tree Holdings, and SCWorx Corp.—tied to COVID-19-related litigation.