Financial Recovery Technologies (FRT) announced today that they have added staff in response to unprecedented growth.  FRT, a technology-based services firm and member of the Cross Country Group, focuses on helping institutional investors identify and file claims in order to collect funds made available in securities class action filings. 

Over 1,300 such cases have been settled, resulting in over $60 billion in funds since 1995.  However, the complex process of filing claims has led to less than 35% of settlement funds being recovered.  FRT creates value by working on behalf of institutional investors to ensure all such recoveries are realized.

Founded in 2008, FRT is a unique group characterized by individuals with years of experience servicing large institutional investors.  Through their proprietary technology and comprehensive service processes, they have grown into a respected industry leader and continue to seek out individuals that bring exceptional skills.

"Our new hires bring distinctive capabilities that will enable us to further accelerate our growth and enhance our delivery capabilities," said David Bedard, President of FRT. "In 2011, I expect our expanded team will continue our tradition of outperforming all industry benchmarks and achieving the highest possible levels of customer satisfaction."

Christopher Doggett recently joined the firm as Executive Vice President to lead FRT's business development efforts and advance the company's growth strategy. Chris joins FRT from Sophos, a global software firm, where he was a Vice President, and worldwide leader for the firm's partner sales and marketing programs, infrastructure and strategy.

Since the beginning of the third quarter of 2010, the firm has added new employees in all functional areas, including three senior sales professionals, a senior software engineer and a management associate.  These additions were made to ensure leadership in a rapidly evolving industry.

About Financial Recovery Technologies

Financial Recovery Technologies is a technology-based services firm that helps institutional investors identify, file claims and collect funds made available in securities class action filings. Offering the most comprehensive range of securities class action filing services available, the firm excels by providing best-in-class eligibility analysis, disbursement auditing and client reporting, and by delivering the highest level of accuracy, accountability and transparency available. For more information, please visit www.frtservices.com.

About The Cross Country Group

Headquartered in Boston, Massachusetts and privately held, The Cross Country Group (CCG) and its member companies provide best-in-class technology-enabled service programs across a broad spectrum of industries, including automotive, insurance, financial services. CCG's companies serve hundreds of corporate clients and their 75 million customers each year.  For more information, visit www.crosscountrygroup.com.

Five states are asking a federal judge in Chicago to take emergency action to close two shipping locks and install barriers to prevent Asian carp from overrunning the Great Lakes via a "carp highway."

At the first hearing in the case Monday, Judge Robert M. Dow Jr. showed no signs of rushing into a decision. He scheduled Sept. 7 and 8 to hear expert testimony in the case, including from scientists about the environmental DNA testing that has found genetic material from Asian carp in Illinois waterways near Lake Michigan.

The judge's questions reflected awareness of the DNA test's limits.

"Could it have been from something that ate a fish?" the judge asked about carp DNA found in water samples. Michigan assistant attorney general Robert Reichel acknowledged a bird that ate an Asian carp could excrete carp DNA into the water. The states' experts believe it's more likely that the findings show the recent presence of carp, Reichel told the judge.

The judge also asked about a single 20-pound carp discovered in June, the first to be found in a Chicago waterway above the electric barrier system. The judge asked whether scientists could pinpoint how it got there.

Law firm Shapiro & Fishman has accused Attorney General Bill McCollum of pre-election grandstanding and “abuse of power” in connection with McCollum’s recent announcement that his office is conducting a foreclosure fraud investigation into that firm and two others.

The allegations are in response to a coordinated investigation announced by McCollum during an Aug. 10 press conference. McCollum said his office is looking at whether the three South Florida firms engaged in unfair and deceptive actions in their handling of foreclosure cases.

The other firms were the Law Offices of Marshall C. Watson in Fort Lauderdale and the Law Offices of David J. Stern, P.A. in Plantation.

The firm’s response came Friday in a motion to quash a subpoena in Palm Beach County Circuit Court.

Kimmel and Silverman, a lemon law firm in the Northeast, says that the fuel pump issue with BMW vehicles is on the rise. The law firm reports it has successfully resolved numerous lemon law and breach of warranty claims dealing with this BMW fuel pump issue for both refunds and significant cash recoveries. The firm has seen this problem with 1-series, 3-series and 5-series vehicles.

The Lemon Law firm indicates that BMW is working to correct the problem and has extended the warranty on the fuel pump to 10 years/120,000 miles. In the meantime, some BMW drivers are dealing with multiple repairs for the same problem. Fuel pump failure can lead to stalling so it is essential that shops continue to monitor the problem on vehicles they service.

To assist your customers and prevent problems on your end, make sure that all clients receive invoices for service done to their vehicles. These invoices should specifically identify the problem the consumer is complaining of, the amount of the days that the car was in service, a detailed explanation on how the problem was fixed and a list of all the components replaced in the vehicle.

A law firm subpoenaed by the attorney general's office in its investigation of excessive pay in a Los Angeles County city gave $5,000 to the gubernatorial campaign of Attorney General Jerry Brown.
Brown, a Democrat, subpoenaed tax and salary records this week from the city of Bell, along with records from its former law firm, Best, Best & Krieger.

A partner in the firm, Edward Lee, was Bell's city attorney and approved the pay, which included $1.5 million in annual pay and benefits to the city manager.

Finance reports show the firm gave Brown's campaign $5,000 in March. Two attorneys with the firm also gave Brown money: Michael Cowett contributed $500 in March and Brant Dveirin gave Brown $1,000 in April.

Brown campaign spokesman Sterling Clifford says the firm isn't accused of wrongdoing.