Claim Rejection

Rejection of claim submitted by absent class members, often due to class member ineligibility or due to a failure to prove damages occurred.

Claim Review

Class administrator scrutiny over submitted claims to discover if potential class members are qualified to share in settlement awards.

Claims Administrator

A court-appointed neutral third party retained to handle claim processing, claim review and approvals and award distribution.

Claims Database

Electronic records held by class administrators that hold personal contact information of named and absent class members for communication purposes.

Class Member

A single person or entity who belongs to a specific settlement class certified by the courts in class action lawsuits.

Class Period

A specific period in which corporate defendants commit securities fraud as alleged by investors named in securities class action lawsuits.

Common Fund Class

A cash fund that class administrators use to distribute money awards among class members who file valid claims.

Commonality

A procedural rule that holds settlement class members must hold a shared interest in pursuing interpretations to questions of fact and law established in the lawsuit.