Success Stories

The deadline to file claims for inclusion in the settlement was October 2023, and distributions were made within just one year. Eligible claims were reported to recover more than 49% of their losses after attorney’s fees—a remarkable outcome for a case involving class-wide losses exceeding $20 billion. After deducting plaintiff counsel fees and administrative expenses, claimants received a net recovery of 33.5% of their eligible losses.

Why Did Wells Fargo Claimants Receive Such a High Payout? Of the more than 800,000 claims processed approximately 450,000 were accepted, resulting in a 56% acceptance rate. Most rejections were due to issues such as late filings, incomplete or inaccurate information, ineligibility (no Wells Fargo stock purchases during the relevant period), and lack of supporting documentation.

Suigen FS played a pivotal role in securing a 100% claim acceptance rate for its institutional clients in the Wells Fargo case, achieving maximum recovery with no upfront costs or legal complications. Through its proprietary processes and deep expertise in securities class action filings, Suigen FS minimized the workload for its clients while ensuring timely and accurate recoveries. For institutions navigating the complexities of class action claims, Suigen FS provided a seamless, efficient, and effective recovery solution.

The fund deposited by Myriad Genetics Inc. covered investors who acquired the company’s common stock between 2017 and 2020. The filing deadline for inclusion in the distribution was January 2024, with the payout occurring promptly 12 months later, in December 2024.

Eligible investors who filed for recovery received a payout equal to 13.1% of their eligible losses. The compensation fund distribution was handled through a confidential administrative procedure, avoiding any litigation or public exposure.

Suigen FS identified a recovery opportunity for a Swiss asset manager who acquired Myriad Genetics Inc. common stock during the reference period but missed the deadline to apply for compensation. Suigen FS confirmed the client’s eligibility and estimated the compensation amount, and on approval filed for recovery on their behalf.

Despite the significant risk of the claim being rejected due to the application being submitted 8 months after the deadline, Suigen FS received positive feedback from the Fund Administrator in September 2024, confirming the claim’s acceptance and the imminent distribution of the fund.

In December 2024, the client received the maximum award entitled to them. Partnering with Suigen FS was pivotal in navigating the complexities of this securities class action settlement. Suigen FS operates on a success-fee basis, with no upfront or fixed costs, making it an obvious choice to pursue recovery—even after the application window had closed.

Timely and accurate filing in securities class action settlements is essential for ensuring that affected investors can recover their losses. Meeting filing deadlines and adhering to requirements is critical for claim success, as errors or incomplete submissions can result in delays, disputes, or even disqualification from compensation.

Suigen FS utilizes proprietary monitoring and filing processes to ensure applications are submitted promptly, maximum awards are secured, and the correct protocols are followed, guaranteeing a 100%success rate. With Suigen FS, applicant privacy is fully protected, no legal representation is required, and the burden on the client is minimized.

The deadline for filing claims to participate in the fund distribution was September 2022, with distributions starting in March / April 2023. Claimants were projected to recover over 96% of their eligible losses after attorney’s fees. After deducting lead Plaintiff Counsel fees and other expenses, claimants ultimately received a net recovery of 92% of their eligible losses.

Why did BlackBerry claimants received such a high compensation?
The administration of the fund reported 12,148 claims were processed, of which only 2,966 were found to be valid. This amounts to 75.6% of claims being rejected due to issues such as inaccuracy, incomplete information, not having purchased Blackberry securities during the applicable period and/or the impossibility to provide supporting documentation. This resulted in very few eligible claimants being filed accurately, resulting in a much higher than average recovery for those claimants who filed correctly.

Suigen FS successfully filed on behalf of several institutional claimants in this case, achieving a 100% claim acceptance rate, no upfront or fixed costs. Operating as an outsourced class action recovery department, Suigen FS collaborated closely with each claimant, ensuring no legal action was required, all administrative recovery opportunities were captured, and total claim amounts were
maximized, resulting in fast and efficient claims recovery.