Northern Trust is offering its clients access to class action technology from Broadridge.
Custodian Northern Trust reports that it is helping its clients “optimize claim recoveries and increase engagement in settlement processes” by offering them the proprietary global class action technology from services, systems, and software provider Broadridge Financial Solutions.
“Enhancements available with the new service include expanded coverage for more than 35 markets and, for the first time, support for ‘opt-in’ markets where claimants can elect to participate in litigation prior to the suit being settled,” according to Northern Trust.
“In addition, enhanced reporting provides clients with greater detail over the lifecycle of their class action cases, including upcoming filing deadlines, case summary and claim detail reports, and detailed listings of all claim distributions,” officials say.
The Broadridge Global Class Action Services offers:
- Asset recovery across the corporate actions processing life cycle;
- A client portal intended to offer transparency and predictability;
- The ability to automate the multichannel delivery of required investor notifications
The Broadridge set of services also encompasses portfolio monitoring and research; multichannel notifications; data management support; claim preparation and filing; payment and distribution; and global antitrust litigation.
Northern Trust officials add that the collaboration with Broadridge “comes at a time when the global class action landscape is expanding rapidly, with over 35 jurisdictions now supporting collective redress mechanisms for shareholders. In 2024 alone, class action settlements reached $5.2 billion across 135 cases worldwide, highlighting the growing importance of comprehensive asset recovery solutions.”
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