Northern Trust is enhancing its asset recovery capabilities on a global scale through the integration of advanced technology from Broadridge Financial Solutions. This initiative is designed to help clients improve their claim recoveries and engage more effectively in settlement processes.
The new enhancements offer an expanded coverage across over 35 markets, including support for “opt-in” jurisdictions. In these regions, claimants can decide to become involved in litigation prior to the resolution of the case. Additionally, the service will feature improved reporting that provides clients with detailed insights throughout their class action cases. This includes information on upcoming filing deadlines, case summaries, claim detail reports, and comprehensive listings of claim distributions.
The leadership at Northern Trust has expressed a commitment to providing innovative solutions that maximize the potential of their clients’ investment strategies. This partnership with Broadridge illustrates a focus on employing state-of-the-art technology and market analysis to improve client outcomes and foster growth.
Amid the increasing complexity and number of securities class actions, it is crucial for financial institutions to capitalize on every opportunity to protect and recover assets through best-practice stewardship. Broadridge’s Global Class Action Services empower firms like Northern Trust with the necessary tools to enhance recoveries, simplify participation in settlements, and improve operational performance.
These upgraded solutions will afford investors greater transparency and operational flexibility while increasing access to global opportunities for asset recovery as new legal frameworks emerge. This includes bolstering investments in countries that utilize opt-in class action systems.
The implementation aligns with a broader trend where the class action landscape is rapidly evolving. Currently, more than 35 jurisdictions support mechanisms for collective redress for shareholders. The year 2024 saw class action settlements exceeding $5.2 billion across 135 cases globally, underscoring the significance of comprehensive asset recovery solutions in today’s financial environment.