Pre-Settlement Consultation
Optime is pleased to offer a free consultation regarding your upcoming settlement. We believe each settlement is unique and that there are multiple solutions to expedite and organize the administration process. Optime will construct a tailored package to best fit your needs and budget.
CAFA Notices
Optime appreciates the tight deadlines for filing CAFA notices. We are equipped to handle the entire process in a fast and organized manner. We can assist client firms in quickly determining claim amounts and the geographic area of a large class. Optime will notify each federal and state official within the allowable time frame. We also provide client firms with reports and delivery confirmations.
Data Analysis
Optime is able to effectively and efficiently manage your data. Settlements involving outdated mailing addresses are all investigated and updated. Our staff also has hundreds of hours of experience computing complicated damage calculations. Optime can also consult on cases in which the settlement is not explicit in the exact method of distributing funds. We can help you determine the best calculation to determine that all funds are distributed in a fair and equitable manner. Optime will also provide you with copies of any revised or calculated data in a comprehensive and easy to read format before it is used for the administration of a settlement.
Notices/Mailings
Once notices have been approved for distribution, Optime will quickly and accurately deliver all required paperwork to the class. Optime has the ability to design custom envelopes that clearly identify the nature of the mailing to reduce the instances of class members not opening the correspondence due to assumptions that it is junk mail. We also monitor and investigate any returned undeliverable pieces of mail. This allows Optime to help ensure the highest possible response rate for your settlement.
Claims Processing
Claim processing is one of the most important tasks in the proper administration of a settlement. Optime’s custom built databases and organizational principles allow us to be a leader in accurately tracking and reporting of class member response and participation. Optime also generates custom reports for its clients with information about the response rates. The reports can be as periodic and detailed as the client firm prefers.
Class Member Customer Service
Class member customer service is the cornerstone of Optime’s mission to professionally administer class action settlements. We understand the importance of client relations and we appreciate that the interactions we have with class members is a representation of our client firm. We answer each and every class member question or concern with promptness and the upmost professionalism. We also provide class members with toll free phone numbers and email addresses so that each member can contact us quickly in a method of his or her convenience. Similar to claims processing, Optime will provide the client firm with periodic reports of class member interaction. The parameters of this report, including the frequency and detail can be set by the client firm.
Distribution Management and Tax Reporting
Optime can also handle the management of fund distribution and tax reporting. The checks will be monitored to ensure proper delivery and security. We will also handle the stop payment and reissuance of checks, as well as cancelling expired checks. Optime presents a status report of the payments to the client firm on a daily or weekly basis. Optime will manage the reconciliation process of the settlement funds, complete additional distributions to the class, and or handle the Cy Pres process for the client firm. Optime is also equipped to provide class members with the appropriate tax documents either at the time of distribution or in January of the following year. We also ensure that all appropriate documents for the settlement are filed completely and accurately with the Internal Revenue Service as well as any State tax authorities.
