LAKE SUCCESS, NY (May 5, 2014) – The Garden City Group, Inc. (GCG), the premier provider of legal administration services, continues to lead the class action field, having administered the majority of the high-dollar value securities class action settlements added to The SCAS Top 100 in 2013.
In its semi-annual reports, SCAS (a division of Institutional Shareholder Services Inc.) collects and ranks the most significant securities settlements of all time. Of the 12 settlements added for 2013 (), GCG administered seven of them:
• Bank of America Corporation – $2,425,000,000
• Citigroup Bonds – $730,000,000
• Citigroup, Inc. – $590,000,000
• Lehman Brothers Holdings, Inc. – $516,218,000
• Countrywide Financial Corp. – $500,000,000
• Bernard L. Madoff Investment Securities LLC – $219,857,694
• Federal National Mortgage Association – $153,000,000
The ISS Report confirms that GCG has also administered more than half of the top 25 cases of all time and more billion-dollar settlements than all the other administrators combined.
“For nearly three decades GCG has set the standard for excellence by providing services tailored to the unique and specific needs of all matters we handle, including these high value securities settlements,” said Neil Zola, president of GCG. “This report further confirms our unmatched services and industry ranking.”
“Our achievements in the securities arena are unquestionably the best in the industry,” said David Isaac, chief executive officer of GCG. “In addition, whether it is a large, complex matter or a straightforward, routine engagement, GCG’s quality of work remains constant throughout all cases we administer.”
The firm has provided administration services in connection with the most complex and challenging securities litigation in the United States. GCG also handles other high-profile class action and mass tort administrations, including the areas of consumer products, consumer finance, healthcare and insurance, antitrust, labor and employment, ERISA and other shareholder matters, and civil and human rights.
About The Garden City Group, Inc. (GCG)
GCG (www.gcginc.com) is the recognized leader in legal administration services for class action settlements and other claims administration, bankruptcy cases and legal noticing programs, with more than 1,000 employees in offices coast-to-coast. GCG has been named a Best Claims Administrator by the New York Law Journal for three years in a row. The firm has been engaged in many high-profile distribution matters, including the General Motors bankruptcy, the $20 billion Gulf Coast Claims Facility and the $7.8 billion Deepwater Horizon Economic Property Damages Settlement, the $6.15 billion WorldCom settlement, the $3.4 billion Native American Trust Settlement and the $3.05 billion VisaCheck/MasterMoney Antitrust settlement.
Based in Atlanta, Ga., Crawford & Company (www.crawfordandcompany.com) is the world’s largest independent provider of claims management solutions to the risk management and insurance industry as well as self‐insured entities, with an expansive global network serving clients in more than 70 countries. The Crawford Solution℠ offers comprehensive, integrated claims services, business process outsourcing and consulting services for major product lines including property and casualty claims management, workers compensation claims and medical management, and legal settlement administration. The Company’s shares are traded on the NYSE under the symbols CRDA and CRDB.