Class Action Recovery Business Expands Staff Financial Recovery Technologies Continues Rapid Expansion
BOSTON, Jan. 25, 2011 /PRNewswire/ -- Financial Recovery Technologies (FRT) announced today that they have added staff in response to unprecedented growth. FRT, a technology-based services firm and member of the Cross Country Group, focuses on helping institutional investors identify and file claims in order to collect funds made available in securities class action filings.
Over 1,300 such cases have been settled, resulting in over $60 billion in funds since 1995. However, the complex process of filing claims has led to less than 35% of settlement funds being recovered. FRT creates value by working on behalf of institutional investors to ensure all such recoveries are realized.
Founded in 2008, FRT is a unique group characterized by individuals with years of experience servicing large institutional investors. Through their proprietary technology and comprehensive service processes, they have grown into a respected industry leader and continue to seek out individuals that bring exceptional skills.
"Our new hires bring distinctive capabilities that will enable us to further accelerate our growth and enhance our delivery capabilities," said David Bedard, President of FRT. "In 2011, I expect our expanded team will continue our tradition of outperforming all industry benchmarks and achieving the highest possible levels of customer satisfaction."
Christopher Doggett recently joined the firm as Executive Vice President to lead FRT's business development efforts and advance the company's growth strategy. Chris joins FRT from Sophos, a global software firm, where he was a Vice President, and worldwide leader for the firm's partner sales and marketing programs, infrastructure and strategy.
Since the beginning of the third quarter of 2010, the firm has added new employees in all functional areas, including three senior sales professionals, a senior software engineer and a management associate. These additions were made to ensure leadership in a rapidly evolving industry.
About Financial Recovery Technologies
Financial Recovery Technologies is a technology-based services firm that helps institutional investors identify, file claims and collect funds made available in securities class action filings. Offering the most comprehensive range of securities class action filing services available, the firm excels by providing best-in-class eligibility analysis, disbursement auditing and client reporting, and by delivering the highest level of accuracy, accountability and transparency available. For more information, please visit www.frtservices.com.
About The Cross Country Group
Headquartered in Boston, Massachusetts and privately held, The Cross Country Group (CCG) and its member companies provide best-in-class technology-enabled service programs across a broad spectrum of industries, including automotive, insurance, financial services. CCG's companies serve hundreds of corporate clients and their 75 million customers each year. For more information, visit www.crosscountrygroup.com.
SOURCE Financial Recovery Technologies