11/14/2018 6:00:00 AM
SEATTLE, Nov. 14, 2018 – JND Legal Administration, a legal management and administration company serving law firms, corporations and government entities, today announced its government services business line has been awarded two independent contracts from both the Federal Trade Commission (FTC) Office of Claims and Refunds and the U.S. Securities Exchange Commission (SEC) Office of Distributions Division of Enforcement.
“It is a very proud moment for JND to be entrusted to administer the enforcement actions of both the SEC and FTC,” comments Neil Zola, executive co-chairman and co-founder of JND Legal Administration. “Through these contracts, JND will deliver timely and accurate settlement administration services for both federal entities, allowing them to concentrate on their missions of protecting consumers and investors.”
JND’s government services business line is run by Senior Vice President Charles Lawson who was instrumental in helping JND secure the contracts. Under these contracts, JND will provide all personnel, equipment, tools, supervision, and other services necessary to ensure effective notice, claims administration, and funds distribution.
“The Division of Enforcement’s Office of Distributions (“OD”) is responsible for administering and coordinating the SEC’s distribution program,” read the SEC statement of requirements for submission. “OD’s objective is to return funds to eligible harmed investors as expeditiously and efficiently as possible given the circumstances of the particular matter.”
“Distributing these funds is a major undertaking,” read the FTC statement of requirements for evaluation. “The FTC relies on private sector support for a portion of the administration of the claims processing and fund distribution.”
Federal agencies establish long-term contracts with settlement administration firms to develop and implement the distribution plan, including: developing a timeline for distribution; determining economic harm or loss and retaining an expert if needed; locating and identifying harmed investors; determining whether claimants are eligible to receive payment; communicating with potentially eligible claimants; and providing reporting and record keeping services.
About JND Legal Administration
JND Legal Administration is a legal management and administration company led by industry veterans who are passionate about providing superior service to clients. Armed with decades of expertise and a powerful set of tools, JND has deep experience expertly navigating the intricacies of multiple, intersecting service lines including class action settlements, corporate restructuring, eDiscovery, mass tort claims and government services. JND is trusted by law firms, government agencies and Fortune 500 companies across the nation. The company is backed by Stone Point Capital and has offices in California, Colorado, Minnesota, New York, Washington and Washington, D.C. For more information about JND, visit www.JNDLA.com.