How to Select a Claims Processing Agency

With significant monetary recoveries at stake in the $3 billion VISA/MasterCard settlement and other class actions, choosing a claims filing agency to prepare and file your claim is an important business decision. Here is a list of key factors to consider that will help you make the right call.

1. Check References
   Make sure the company you are seeking to engage has had productive and successful relationships with clients both large and small. Ideally, find out whether they have clients in your industry or a similar industry.
    
2. Be Clear About What Services They Will Provide
   Claims filing agencies provide a broad array of services, ranging from performing relatively simple tasks such as completing and filing forms, to much more sophisticated analytical services that seek to optimize your recovery. Find out precisely what the claims filing agency is planning to do for you.
    
3. Determine Their Expertise in the Case
   Ask informed questions regarding the settlement itself. A good claims filing agent should know about the Plan of Allocation and how settlement money is to be distributed like the back of his or her hand. Ask specific questions you know the answers to, to find out whether they really know their stuff or not.
    
4. Visit Their Office
   Ask if you can stop by to view their operations. Are their offices located in a professional building easily accessible to the public? Or do they work in a “boiler room” set-up or some other unconventional office arrangement? Find out about the firm’s major players’ expertise, background and education. Are there lawyers on staff? Are accountants or MBAs on staff?
    
5. Look into the Principals’ and Staff’s Background
   Find out about the firm’s major players’ expertise, background and education. Are there lawyers on staff? Are accountants or MBAs on staff? Do they have experience in auditing and claims recovery? These questions will help you determine whether the firm brings best practices to the business or whether they are merely opportunistic.
    
6. Inquire into the Company’s Financial Position
   Ask whether they have a Dun & Bradstreet number. Inquire about their capitalization and banking relationships, and ask whether you are free to speak to their bank about the company. Inquire about the financial solvency of the principals and see if they will let you run a credit check. A claims filing agency should operate in a fiduciary capacity and should not be afraid to let their clients see the inner workings of the business or the people running it.
    
7. Research the Company
   Use Google, Yahoo! and other Internet services to search for information about the company, any predecessor companies and the principals. Ideally, the company should be well established and you should be able to find a substantial amount of information about them on the Internet.

 
About Spectrum

Spectrum is the nation’s largest full service claim filing and fund recovery service for class-action settlements. Spectrum offers a complete solution – keen understanding of the settlement agreement and process combined with the professional expertise needed to establish class member eligibility, prepare, file and manage settlement claims and interface with claims administrators through to the final payout. Spectrum’s proprietary methodology uncovers details often overlooked, ensuring Spectrum clients receive the monetary recovery they are entitled to from class-action settlements. Spectrum’s team has filed claims for recoveries totaling over $100 million and has worked for over 20% of the Fortune 500.

Management Team

Howard Yellen, CEO
A.B. from Vassar College
J.D. from University of California at Berkeley, Boalt Hall School of Law

Mr. Yellen is a leading advocate for class members in both securities and commercial class actions. Prior to founding Spectrum, Mr. Yellen was a practicing attorney at Orrick, Herrington and Sutcliffe, a major San Francisco-based law firm.


John Toth, CFO
B.A Economics, Stanford University
M.A., Stanford University

Prior to Spectrum, John was a Vice President with J.P. Morgan’s corporate finance division where he marketed and executed the full range of investment banking products and services to companies in the high tech, telecommunications, and energy industries.


Kassra Nassiri, General Counsel & Vice President of Legal Affairs
B.A., University of California, Berkeley
M.A. Economics, Stanford University
J.D., Harvard Law School

Prior to joining Spectrum, Mr. Nassiri was an attorney at Wilson Sonsini Goodrich & Rosati, the leading securities class-action defense firm in the country. He has defended Fortune 500 companies in shareholder class action lawsuits, derivative lawsuits and SEC investigations.


David Morgenstein, Chief Operating Officer
B.S., University of Arizona
M.B.A., Golden Gate University

Mr. Morgenstein co-founded SRC in 2003 and transitioned to Spectrum in 2005. Prior to SRC, he served as Director of Operations at Commerce One, and before that was an F15 pilot for the U.S. Airforce.


Brian Dennis, Vice President, Sales
B.S. Lafayette College
J.D, University of California Hastings, College of Law.

Mr. Dennis joined Spectrum following an assignment as a Security Legal Analyst consulting with major companies on high-level security services and IT outsourcing.


Mac Irvin, Chief Claims Analyst
A.B., Stanford University
M.B.A., University of Texas at Austin

Prior to joining Spectrum, Mr. Irvin served as Managing Director at GATX Capital and as Corporate Services Director at RailTex, Inc, a NASDAQ listed firm and three times an Inc. Magazine “500 Fastest Growing” company.

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If you have further questions, send an email to info@vmcsettlement.com or call (415) 392-5900.