Engage a settlement administrator prior to drafting your settlement agreement. Consulting with an experienced claims administrator and legal notice expert that early can save time and money throughout the run of the case. There are five major reasons why it’s better to work with a settlement administrator from the very beginning.
- It’s cost-effective. Administration experts offer cost-saving solutions and proactive strategies that address major drains on resources, so parties ultimately save money.
- Your timeline will be accurate. Settlement administrators help establish realistic time frames for the case before scheduling problems arise. Compressed timelines leave little time to vet documents, confirm class members, and resolve objections. Nothing is worse than showing up to court unprepared. It can be a long, challenging, and costly process to get back on track with the court calendar.
- You have proactive support where you need it. Tasks like notifying claimants and verifying class data can be large and overwhelming without the right program and sufficient personnel in place. Claims administrators serve as a partner in tackling class data, and proactively identify problems before they occur. Data security, for instance, presents a number of pitfalls if done incorrectly. Claims administrators review data for missing pieces, clean up data formatting, and inform a notice strategy that satisfies due process requirements.
- Compliance counseling helps you maintain favorable brand reputation. Public class action settlements carry high visibility, meaning scrutiny from class members, and increased risk of objections. When tapped early, a settlement administrator guarantees compliance with the Class Action Fairness Act of 2005 and Rule 23. Compliance with federal law is not something you want to consider in retrospect.
- Working with pros early reduces the risk of fraud. Experts help safeguard against potential areas of weakness you may not otherwise consider. For example, advertising using digital bots, on niche websites, or in click-bait environments can lead to fraud and considerable damage to your client’s brand reputation. There is no substitute for human eyes on your notice campaign.
If you’re wondering, “When should I use a class action settlement administrator?” the answer is now!