How to File a Securities Class Action Claim

To file a securities class action claim, confirm that you bought the security during the class period, gather your brokerage records for every transaction in that security, and submit a proof of claim form with those records on the settlement administrator's website before the deadline. The administrator then calculates your payment using the plan of allocation.

Step 1: Check whether you are in the class

Read the notice or the settlement website for:

• ✓The exact security, including the ticker and whether options or bonds are included
• ✓The class period dates, and whether the class covers purchases, holdings on a date, or both
• ✓Excluded persons, such as company insiders
• ✓The claim deadline

Then compare those dates with your trading history. If you bought during the class period, you are likely in the class, but whether you receive money depends on the plan of allocation. See securities settlements explained for how recognized losses work.

Step 2: Gather your trade records

Securities claims require documentation. Typically you need:

• ✓Your holdings in the security at the start of the class period
• ✓Every purchase and acquisition during the class period, with dates, share counts and prices
• ✓Every sale during the class period and often for a period after it, with dates, share counts and prices
• ✓Your holdings at the end of the relevant period
• ✓Broker confirmations or monthly statements that show these transactions

If you no longer have the statements, ask your broker for historical records. Many brokers can export transaction history for older years, though it may take some time.

Step 3: Complete the proof of claim

1. 1Go to the official settlement website listed in the notice. Check that the address matches what appears in court filings or the notice.
2. 2Fill in the claimant details exactly as they appear on your brokerage account, including joint owners.
3. 3Choose the account type, such as individual, joint, IRA or trust. For an IRA, the custodian may need to be named.
4. 4Enter each transaction, or upload a spreadsheet if the site allows it.
5. 5Upload supporting documents.
6. 6Sign the certification, which confirms the information is true.

Step 4: Watch for follow-up

Administrators review each claim and may send a deficiency notice if something is missing, such as documents for a particular trade. Respond by the date given, or that part of the claim may be rejected. Our guide to why claims get rejected covers common problems.

Step 5: Wait for distribution

After the deadline, the administrator processes all claims and asks the court to approve the distribution. That usually takes many months. Payments below a minimum threshold may not be sent. Uncashed or leftover funds may be redistributed to claimants in a later round.

Common mistakes to avoid

• ✓Filing the same account twice, or filing for an account your broker or adviser already filed
• ✓Missing the separate deadline when there are multiple settlements in one case
• ✓Using the wrong account owner name, such as an individual name for an IRA
• ✓Assuming your broker filed for you. Most brokers do not file for individual clients unless they offer that service.

Should you use a claims filing service?

Institutions with many trades often hire third-party filing services, which charge a share of the recovery. For most individual investors, filing yourself is manageable: one security, a handful of trades, a few statements. Be cautious of anyone who contacts you offering to file for a fee on a settlement you have not heard of, and confirm the settlement on the official website first.

After you submit, save a copy of the full claim, the confirmation number and the documents you uploaded. If you change brokers, move or change your email before payment, update the administrator. Payments can come many months later, and an old address is a common reason checks go astray.

The claim form checklist is useful for any settlement. If you hold individual stocks, add those companies to SettleScout to get notified when a matching securities settlement opens and reminded before the proof of claim deadline.