Class Action
Disbursement Management
Epiq delivers on disbursements.
Epiq securely and efficiently handles funds by utilizing our managed disbursement services and proprietary disbursement software. Our approach is proactive for controlling the entire process, including acting as an escrow agent, investing settlement funds in secure approved investments, managing cash flow, and analyzing and reconciling bank accounts, all under the strictest quality control. We consistently strive to meet the demands of class action settlements, including consumer class action and complex litigation matters, by carefully coordinating claims processing and settlement administration functions. As a result, we bring a comprehensive class action mindset, whether handling qualified settlement funds or working with class members in large-scale administration mass tort cases.
Key Features
- Through our extensive experience, we serve as claims administrators, partnering closely with clients to deliver action settlement administration support.
- With a deep understanding of class action lawsuits, we focus on delivering a seamless settlement process for both plaintiffs and defendants.
- Whether you need assistance with class claims or mass tort settlement administration services, Epiq acts as a trusted settlement administrator, providing unparalleled efficiency and transparency.
- We operate under the industry’s most rigorous security standards, with regular account audits. In fact, our standards exceed those of the banking and federal government sectors.
- We are audited under Statements on Standards for Attestation Engagements (SSAE) 16 standards and currently manage funds and payments for the federal government.
- Our checks are printed on-site, with secure paper stock and magnetic ink character recognition (MICR) encoding.
- Our protocols support both securities class action settlements and consumer class action settlements, ensuring that every settlement class is protected against potential risks.
- Adhering to tax filing requirements can be an elaborate process for a Qualified Settlement Fund.
- We provide a wide range of services to help you meet those requirements, including taxpayer identification number (TIN) matching, federal, and state income tax return preparation, advising and reporting on class member awards, and filing all tax returns, with required payments.
- Acting as an intermediary between you and the IRS, we respond to all IRS communications and coordinate directly with them, as necessary.
- Our breadth of expertise in action litigation, class certification, and administration class action extends to making sure your qualified settlement funds are properly managed.
- We also advise on securities class actions, so whether it is a securities class action or consumer class action, our dedicated professionals will ensure each claim filing remains compliant.
Which payment options make the most sense for your settlement?
Today’s marketplace offers a variety of payment options, each with distinct benefits and drawbacks.
- The cheapest and easiest of all the options are direct deposits or account credits, but these options are often not available.
- Checks are historically a popular way to pay claimants, but they are also one of the most expensive methods, with up to 46 cents added to the cost of each check just for postage.
- Digital checks and payment processors like Paypal and Venmo eliminate the cost of postage, but to the extent that class members are not familiar with the payment method, savings on postage could be reduced by additional class member support costs like phone calls and emails.
- Prepaid cards can be effective but are often more expensive and could have other limitations, like card expiration dates.
Factors that will Impact Your Payment Method Decision
- Factors include the underlying issue the payment is remediating, age of the class members, volume of payments, and payment size.
- Courts are also increasingly focused on negotiation rates in terms of any cy-près provision, attorney fee arrangements, and supplemental distribution, so payment decisions have a far-reaching impact.
- We work through all of these factors with our clients and then design an integrated claims process to allow for one or multiple payment methods to be selected. This approach supports a variety of settlement administration strategies, covering both action lawsuits and class action litigation needs.
By tailoring our services class action approach to each matter, whether it involves class notice, claim filing, or class certification, Epiq ensures that every settlement process is executed smoothly. Our team knows how crucial it is to factor in fund administrators prime when balancing project costs and timeliness. From action settlements to securities class, we have the capabilities to address a broad spectrum of administration class action requirements.
Simplify your case with customized disbursements for any industry. Contact an Epiq Subject-Matter Expert today.