Legal Question in Securities Law in California
To whom do I address a complaint regarding distribution of settlements for a securities lawsuit settlement? The consulting company is not doing its job even that distributions for the members
who are entitled to their reimbursements are due. This company is doing nothing.
2 Answers from Attorneys
Have you called the Claims Administrator and asked the reason for the delay? If not start there. If you have attempted such communication but are not satisfied with the response, you can call the Plaintiff's counsel and see if you can get an explanation for the delay.
Claims Administrations are often complex and take considerable time. So not knowing how long its been since the Claims Process started its hard to know if the delay time has been longer than anticipated.
While possible, its not likely the claims administrator is doing nothing. But either they or the Plaintiffs' counsel should be able to tell you what they are doing to process these claims and what is causing the delay.
I assume the case was a class action. If the claims administrator is not doing its job, try reaching someone at the law firm that represented the class plaintiffs. They will be getting a big fee; they should at least keep their clients informed.
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