25% of the Fortune 100 and Fortune 1000 are Spectrum clients. Spectrum clients have accounted for as much as ½ of all funds recovered in some settlements. Below are some example client success stories:
Rental car company recovers additional $10 million
One of the largest rental car companies in the US, with over 5,500 locations, received a settlement offer of $625,851 from the Claims Administrator and hired us to ensure they were getting the full recovery they were owed. Upon developing their full data set, we discovered they were owed significantly more.
We submitted a challenge to the Claims Administrator which, after many months of negotiations, resulted in an award to our client of $4 million. Believing our client was still entitled to more, we retained outside counsel at our expense, appealed that award to Lead Counsel, then subsequently appealed to the Special Master. We also petitioned the court to pay our client the undisputed $4 million immediately. The court ordered the Claims Administrator to pay the $4 million immediately and, in the end, our client recovered over $11 million.
Fortune 1000 company doubles recovery
A Fortune 1000 retail company with over 3,000 store locations was acquired while we were developing a claim for them. The new parent company had already filed a claim in the same settlement, using a claim filing company. In the process of continuing to develop our client’s claim, we requested data from the new parent company to ensure there was no overlap in claim values. Upon analyzing their data we discovered the parent company was due substantially more money than the claim filing company had submitted in their claim.
When the claim filing company was confronted with the facts, their reply was that they were “confident that no other company could get them any more money than what they’ve already submitted in their claim.” We offered to take on the additional work of submitting a challenge to the claim already filed. Spectrum’s efforts doubled the recovery to over $1 million.
Fortune 100 company constructs proof of purchase
One of the 5 largest companies in the world hired us to develop their claims in the Microsoft settlements. Their challenge: two of their largest technology vendors, IBM and HP, were unable to provide data that met the settlement threshold for proof of purchase of software licenses.
Working directly with the legal and sales departments at IBM and HP, we surfaced alternate documentation which, used in combination with other industry and company data, we used to build evidence of a purchase history. The Claims Administrator accepted our documentation, resulting in a total recovery of over $4.5 million. Additionally, we worked with the client to allocate and distribute the proceeds among more than 20 client subsidiaries and legal entities.
$2.5 billion retailer increases recovery by $3.75 million
Our research and well-supported challenges allowed a well-known retailer who had received a settlement offer of $240,000 to recover over $4 million.