As a result of FRS’s substantial class action settlement and claims management experience, FRS is able to devise innovative methodologies for deriving the data necessary to support claims and our success in obtaining claims administrator and counsel approval for those innovative alternative approaches for information and document gathering. As a result, rather than spend many hours and substantial expenditures digging through potentially years of decades-old data and documents, FRS’s clients expend far less effort in the claims process than do the internal staffs of non-clients. A few examples of the value added through FRS’s innovative approaches are as follows:
- A large “Fortune” client estimated that FRS’s successful advocacy for alternative documentation and estimation in the Vitamins settlement saved that client approximately 150 hours of work, and resulted in a recovery for the vast majority of its purchases that otherwise may not have been allowed.
- FRS’s client, one of the world’s leading diversified manufacturers of specialized industrial equipment, maintained during the 10-year Freight Forwarders Antitrust Litigation class period that began in 2001, hundreds of subsidiaries and divisions with decentralized purchasing; accordingly, data and document collection would have been prohibitively burdensome. FRS developed an innovative alternative approach that resulted in a claim for over $675 million of eligible freight forwarding services.
- FRS recognized that, although a large hospital client was eligible to recover from the settlement of the Hypodermic Products litigation, its data was so voluminous that the required records could not be segregated. As a result of FRS’s construction of programming to search the records, the client recovered $48,000.
- A large retail client had acquired many of its approximately 4,700 locations but did not have purchasing records to substantiate those entities’ claims in the LCD Flat Screen Indirect settlement. FRS developed an acceptable alternative methodology to calculate the claim, which resulted in a recovery of over $1.25 million.
- FRS, through an innovative alternative to searching for, collecting and analyzing hard copy documentation in connection with the Fasteners settlement, increased the claimed purchases of a large uniform and corporate identity company from $8,500,000 to over $14,600,000, or by 42%.
- As a result of FRS’s innovative approach to document the claim that a large hospital client submitted in the LCD Flat Screen Indirect settlement, that client received an over $409,000 recovery.
- An FRS client, a global provider of marketing solutions, had determined that, because it could not locate purchase documentation, it would not submit a claim to participate in the LCD Flat Screen Indirect settlement. In response, FRS developed an alternate approach to providing the actual purchase documents, which resulted in a recovery of approximately $4.8 million.
Just the examples above account for over $6 million of value added for our clients.