Fiduciary and investment risk management association
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Fiduciary and Investment Risk Management Association. 21 st National Training Conference Phoenix, AZ April 18, 2007 Corporate and Class Action Settlement Process Satish Pattegar. Introduction. Corporate Actions VS. Class Actions

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Fiduciary and investment risk management association

Fiduciary and InvestmentRisk Management Association

21st National Training Conference

Phoenix, AZ

April 18, 2007

Corporate and Class Action Settlement Process

Satish Pattegar


Introduction

Introduction

Corporate Actions VS. Class Actions

  • Corporate Actions: A process that will bring actual change to a company’s stock.

    E.g.: Stock splits; Dividends; Rights Issue; Mergers; Tender Offers; Spin Offs; Stock and Bond Redemption; etc.


Corporate actions vs class actions

Corporate Actions VS. Class Actions

  • Class Actions: Consolidated Litigation on behalf of many plaintiffs against one defendant.

    E.g.: Enron, WorldCom, Lucent, etc.


Legal fiduciary and tax considerations

Legal, Fiduciary and Tax Considerations

Legal Considerations

  • Failure to Elect

  • Opt-out

  • Title to Claim


Legal fiduciary and tax considerations1

Legal, Fiduciary and Tax Considerations

Fiduciary Needs

  • Voluntary

  • Mandatory


Legal fiduciary and tax considerations2

Legal, Fiduciary and Tax Considerations

Tax Considerations

  • Principal

  • Income

  • Structured


Corporate actions process

Corporate Actions Process

  • Timely Receipt of Notice

  • Accurate Analysis of Event(s)

  • Analyze Tax Consequences

  • Communicate to Decision Maker


Corporate actions process1

Corporate Actions Process

  • Gather and Transmit Election

  • Receive and Allocate

  • Exceptions


Class action process

Class Action Process

  • Source

  • Policy

  • Process

  • Allocation


Class action process1

Class Action Process

  • Tax Reporting

  • Escheatment

  • Exceptions


Conclusion

Conclusion

  • Standardization

  • Uniform Guidance/Best Practices

  • Legal or Operational

  • Pricing


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