GCG has broad experience in class action administrations, including in antitrust, civil and human rights, consumer and product defect, data breach, ERISA, labor and employment, and securities cases. Indeed, GCG has executed some of the most historic and complex class action administrations of all time. We have a track record of successfully navigating the challenges that can arise from changes in class action precedent and requirements, evolutions in technology, demands caused by high volumes of class members or claimants, complexities around claims processing and recovery calculation, and exacting temporal requirements, while delivering results that have been objectively measured to be in excess of 99.97% accurate and higher.
GCG has executed many of the highest-profile antitrust settlements of all time, requiring implementation of some of the most comprehensive and far-reaching national and international notice campaigns ever conducted. GCG designs novel and cost-effective methods to reach members of an antitrust class. We have had tremendous success pre-printing proof-of-claim forms and auto populating online claim forms with claim data to reduce user error and achieve cost efficiencies in antitrust programs. Further, our team is proficient in implementing related antitrust settlements, whether achieved simultaneously with numerous defendants or separately over time, to capitalize on prior work to the benefit of the class and counsel.
Civil and Human Rights
GCG works in civil and regulatory contexts to develop and implement specialized multinational notice, publication, and media campaigns designed to reach even the most transient classes. Our Call Center professionals are trained and supervised to deliver case information and instructions accurately and efficiently, while handling all interactions with sensitivity and diplomacy.
Consumer and Product Defect
GCG Media works with our clients to create notice and outreach programs that are designed to attain optimal reach to class members, while also utilizing cost-effective and industry-accepted methods of direct notice and advertising to broadcast the settlement at hand. Our physical resources and experienced staff allow us to accomplish physical notice mailings at the highest volumes and accuracy levels in the industry. And we have extensive experience with email notice programs of all sizes, including very high-volume programs accomplished at industry-leading levels of deliverability. GCG pioneered online claim filing. We can customize an online claim portal that translates settlement terms into an electronic claim process, provides ease-of-use for claimants, promotes efficient claim processing, and satisfies counsel’s need for secure, remote access to claim information. We understand how to manage the sometimes challenging issue of validation of product purchases to ensure accurate and adequate recovery to class members, and we can efficiently disburse settlement recoveries in a variety of methods, including via retail coupons, gift cards, and vouchers.
ERISA, Labor and Employment
GCG’s labor and employment settlement administration experience encompasses all manner of employment-related issues, including Fair Labor Standards Act (FLSA) collective actions, state law wage-and-hour class action cases, ERISA class actions, discrimination cases, and employment tort and breach of contract cases. Our securities expertise distinguishes us in ERISA matters, as we are able to capitalize on our understanding of the securities industry and our work with plan administrators. We understand and comply with federal and state payroll tax processing and reporting regulations. We have executed settlements of all sizes with reporting requirements in all 50 states.
When it comes to handling projects involving publicly traded securities, GCG is the leading securities administrator—bar none. There is no administrator that has handled more of the large securities cases than GCG. GCG efficiently manages related settlements, whether achieved simultaneously or at different times and whether in the civil or regulatory context, or both. We have administered settlements stemming from transactions involving in common stock, debt instruments, preferred stock, put and call options, mutual funds, hybrid securities, FX, OTC and many combinations thereof. GCG frequently navigates the differing demands of international securities class action settlements, including related banking and currency issues.
GCG has an unsurpassed track record of collaborating with The Depository Trust Company (“DTC”), Euroclear, Clearstream, and the countless brokers and nominees who hold and trade the securities in “street name” on behalf of their beneficial owner clients. As an approved agent with DTC’s Automated Tender Offer Program (“ATOP”) and Automated Subscription Offer Program (“ASOP”), GCG administers exchange offers, consent solicitations, rights offerings, and other corporate events through DTC’s existing framework. In fact, GCG has been at the forefront of novel, cost-effective, and reliable solutions to administrative challenges confronting our clients with publicly-traded securities. In addition, GCG can also collaborate with the debtors, DTC, indenture trustees and/or transfer agents to make new securities DTC-eligible as well as to cancel existing securities.
Online Filing System
GCG is the only administration firm with an online filing portal technology, GCG ICE™. GCG ICE™ is a proprietary and patent-protected website GCG built in-house that has been in use and available to institutional filers in every securities class action GCG has administered since April 2009. Over 160 separate class action settlements, including such high profile matters as the $2.4 billion Bank of America Securities Settlement and the $586 million IPO Settlement, have utilized its technology. With almost 900 registered institutions, GCG ICE™ is the preferred filing mechanism for banks, brokers, custodians, and other institutions in any class action. The online filing option, which can be customized for each specific matter, and is available in foreign languages, is easily adaptable to handle all types of financial instruments, including FX transactions. GCG ICE™ has been used in dozens of complex cases involving equity (common stock, preferred stock, ordinary shares, ADRs/ADSs, initial offerings, secondary offerings), all types of sophisticated debt instruments (including convertible notes), options (including puts and calls), other derivative products, and asset-backed securities.