Tax & Class Action FAQs

A class action is a lawsuit initiated to recoup losses by those who have suffered the same harm or experienced similar financial loss. Class actions are powerful procedural tools to hold wrongdoers accountable for widespread damages caused to a group of victims, who individually may not have sufficient damages to support the cost of prosecuting on their own.

On average, it can take from 18 months to three years to conclude, from filing to settlement and distribution. Not all class actions follow this timeframe, as much depends on the unique details of each case. Our client portal and excellent relationships with all stakeholders and steps of the chain makes keeping up to date simple.

Class action alerts refer to notices sent from litigators to individuals, investors, banks, and companies to encourage participation in an ongoing class action case where compensation may be due. For many, keeping track of these opportunities can be overwhelming, which is why our alert system is valued by our clients, globally.

We are provided with a complex formula which is entered into our application to allow us to calculate the recognised loss. The formula takes many elements into consideration such as the holding period/class period, amount of shares, length of holdings and types of shares. When a client is on-boarded we request a specific set of data which then maps to the calculation in our technology and produces an estimate on the recognised loss based on a variety of specific criteria.

Fill out our enquiry form or call us today to find out if you or your client portfolio is eligible to participate. Our dedicated client services teams are on the end of the phone, and with offices across EMEA, APAC and AMER, we provide global coverage for securities class actions. Our powerful Traffic Light Concept can assist you by taking into consideration criteria clients have for participating. Based on this, and the case summaries we produce, we can provide a recommendation as to whether you should participate, graded as a traffic light.

No. Goal is not involved in any aspect of the litigation process. Our objective is to recover the maximum settlement amount on behalf of our clients after the court issues a disbursement ruling.

No. Goal do not provide legal advice or representation. We work in an agent’s capacity on behalf of institutional investor clients to recover settlement monies after the securities class action litigation has been completed by the courts.

We pride ourselves on our compelling and flexible pricing. So much so that it is one of the cornerstones of our business. Typically, Goal will charge a percentage per claim, which is purely contingent and paid upon receipt of the distribution. As the money is paid to Goal, we will usually deduct the percentage before paying the remainder to the client. The reason we offer proof of concepts is to enable us to be as competitive on pricing as possible.

Goal is ISO 27001 accredited and was one of the first firms to achieve this esteemed accolade. With applications hosted in AWS and globally recognised assurance that client data is not only secure but entirely segregated, we have maintained this accreditation for many years and are audited at least once annually.

In addition to ISO 27001, we are also ISO 9001 certified. This means you can be guaranteed that we operate the highest quality, customer-centric management processes.

Class action lawsuits are not actions that are taken against shareholders. The cause of action relates to negligence or fraud by the company through its directors that impacted upon shareholders’ investment holdings once the extent of that negligence/fraud became known. Shareholders should be looking at whether to recover their damages and, in particular, what the impact of the claim will be on the company and its performance as an investment.

It is the duty of the client to inform us of any claims that have already been filed, as duplicate claims will incur a penalty.

Yes, but it is at the discretion of the court and claims administrator as to whether they will accept the late claim.

Goal files every claim for every account whether there is a recognised loss or not at the request of the client. It is the claims administrator’s ultimate responsibility to determine who is owed money, and it is imperative to our client’s interest to provide an outside analysis of their conclusions.

We provide global coverage in both established and new markets. As well as the markets for which we facilitate this service currently, we are also monitoring those where class actions or similar redress mechanisms are being discussed and recognised so that formal procedures are put in place.

No. The fee associated with the service is purely contingent and based on a no win, no fee scenario. There will also be no additional administration fees or costs associated with the use of the client portal. Should any additional fees be incurred (such as out of pocket expenses) these will be approved by you before we proceed.

As part of the service, we offer a dedicated client portal where you will be able to view statements, open claims, paid claims and those that have been rejected. The portal also provides a complete list of alerts, which can be subscribed to if you want to receive information if/when anything changes. We can also sign you up to the email alerts service, which means you receive all alerts directly to your inbox.

The only parties whose names are a matter of public record are the representative plaintiffs. The names and individual identities of individual class members are not part of the public court proceedings. The only way a client name would be released into the public domain is if they agree to be a lead plaintiff on a case.

Appointing us as your power of attorney (POA) will streamline, improve and greatly speed up the process. While it is not essential to grant us POA, it will makes things much more efficient as we will be able to sign documents on your behalf. Without POA in place, the process lengthens as we will need to transfer documents for signatures and approval. They can either be provided as a blanket POA or on a case-by-case basis. Please note that occasionally a wet signature may still be required.