Financial Solutions Exclusively for Class Action Claims Recovery Companies
Class action lawsuits frequently involve a long and arduous trek from litigation to settlement. The number of plaintiffs in a single class action can often reach into the thousands; court documents can pile up; and the claims payment process can take months once an agreement has finally been reached. Due to these complexities, many class action suits are settled before trial, as this option can provide the most lucrative and timely outcome for plaintiffs.
Consumer-Focused Class Actions
In more consumer-focused lawsuits (such as Tom’s of Maine, to cite one example), a large group of people aren’t even aware they could be a part of a settlement until they receive notification from a claims administrator or class counsel. Sometimes, such “awards” offered only amount to cents on the dollar or some form of rebate.
Business-Focused Class Actions
In lawsuits where businesses are more prevalent, the amounts owed in antitrust, securities, product liability suits, and other large class action cases can be significant. Such plaintiffs must often file large amounts of documents to be eligible for claims in these types of settlements. Recent examples of such cases include:
- The Visa/Mastercard interchange fee litigation
- Ongoing beef packers price fixing antitrust cases
- The past TFT-LCD settlement involving flat-panel TVs and similar devices
Class action claims recovery firms often play a major role in finding businesses that could be eligible for claims in such settlements and assisting in filing and recovery. For these services, such firms generally receive contingency fees – but there is usually a gap between the work done to earn those fees and distribution.
Balanced Bridge Has a Financial Solution for Delayed Fees
Balanced Bridge Funding can help bridge that gap by providing advances against those pending fees. Our firm has provided similar funding solutions to numerous groups, including:
- Post-settlement fee funding to lawyers
- Settled case award advances to plaintiffs
- Advances to government contractors
We are happy to expand this service to include class action recovery firms!
With documentation of the pending fees, Balanced Bridge can typically provide funding in a few days. Firms can use those funds to:
- Pay costs and expenses for the business
- Market and advertise for new clients
- Fund payroll or bonuses for employees