The D. E.

Shaw Group

Class Action Claims

Managed Accounts

Agenda
Introduction- What is Class action all about?
Workflow - brief
Workflow in detail
Statistics
Examples
Q&A

Managed Accounts

What is Class Action?

a lawsuit brought on behalf of a group
case is filed by a single investor or a group of investors
lead counsel and lead plaintif
Class, class period
Claim administrator
Usual end result
Filing the claim or object to the claim

Managed Accounts

Workflow
We find the claim.
We file the claim.
We get compensated for the loss we had incurred, if
any.
We accept the compensation (Cash or Stock) in the
respective strategies or various entities for which
we had filed the data.
Book it in CODA.
Monthly status Report.

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Procedure
Proactive
Search

Monthly
Status Report

Monetary
Settlement

Claim
Identification

Claim Filing

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Workflow in detail...
Finding a claim
Proactive Search
Mails from NY
Notice of pendency
Eligible securities
Filing a claim
Proof of claim
Mastersheet
Letter of authority
Evaluation of the claim by the admin
Notice of ineligibility
Notice of data inconsistency

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Workflow in detail... (cont.)

Distribution of cash
Accounting of the income
Monthly reporting
Challenges:
Handling large volume of data
Checking historical events
Difference in the data required by various administrators
Submission of proof

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Statistics
Total claims filed so far (1st Jan 2005 - Mar 2012): 700+
Total Payments received (1st Jan 2005 - Mar 2012): $ 95
Million

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Examples
Securities Litigations compensation Shaw received
ENRON - $15m
AOL Time Warner - $3.2m
Tyco - $5.3m

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Thank You