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Institutional investors increasingly involved in global and antitrust litigation

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Institutional investors have moved beyond traditional US securities litigation efforts to focus on damages in non-US jurisdictions and antitrust violations, according to research from Financial Recovery Technologies (FRT), a securities class action recovery services provider.

 
Its report, Securities Litigation & Class Action Trends – 2016 Year in Review, found that in 2016 institutional investors recovered billions in global and antitrust settlements as investors saw an increased opportunity in these emerging areas of class action litigation.
 
Outside of the US and Canada, the global securities litigation landscape saw a record number of opt-in actions filed – nearly a 56 per cent increase from the previous year – many of which were multiple actions filed against the same defendant by multiple litigation organisers.
 
Institutions found that increased complexity in cases like Volkswagen – three actions proposed in Germany and two in the Netherlands – required enhanced capabilities and domain expertise to properly manage their risks while recovering damages incurred by securities traded outside the US.
 
Antitrust litigation involves alleged misconduct affecting markets for non-securities instruments. In 2016, nearly USD2 billion in settlement funds were recovered from the Credit Default Swap (CDS) antitrust case alone. Currently, more than USD3 billion is being held for disbursement from landmark antitrust litigation like FOREX, ISDAfix, LIBOR and Euribor. In the over 40 active antitrust cases in various stages of litigation in the US and globally, institutions are finding that each case requires unique data sets and analyses that often reach back five-10 years.
 
“Institutional investors are waking up to the massive pool of settlements that are currently available, and will be, as a result of global and antitrust litigation,” says Rob Adler (pictured), president of FRT. “While the filing and claims processes are challenging for even the best staffed institutions, the opportunity to maximise recoveries on this scale is too great to pass up.”

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