Collection of Class Action damages in the US and Canada
Investment Funds that have held positions in North American markets can claim significant amounts corresponding to compensation established as a result of Class Actions filed against companies listed in those markets.
Cigarrán Abogados advises and assists Funds and Managers in the claim process.
What are Class Actions?
Class Actions are collective lawsuits initiated before a court whose decision benefits all of the injured parties even if they have not been a party to the process. You can check more information here .
For this reason, the Investment Funds that have held positions in shares of the sued and condemned companies have the right to obtain part of the compensation, even if they have not participated in the judicial process.
unclaimed funds are distributed among the injured parties who have actually made the claim.
How many Class Actions are closed annually? How much do compensations matter?
In the US and Canada, an average of 100 Class Actions are filed per year, distributing an average of close to 10,000 million dollars. The ENRON Class Action set compensations for a value of 7,800 million US Dollars.
The average claims do not reach 30% of those affected.
In April 2017 there were 228 cases open for claims.
Can our Fund make a claim?
If you have held open positions in North American markets, you are most likely entitled to compensation that you would otherwise lose.
Can I assess whether we are entitled to receive any compensation?
If you have held open positions in North American markets we can assess whether your Fund is entitled to make claims.
We are going to close the Fund, will we lose the compensation?
If they are going to close the Fund they still have the option to sell the indemnity rights and convert them into a current indemnity.