Nuvo Claims Inc.
Nuvo Claims Inc.
May 13
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Written By Nuvo Claims Inc.
Before explaining what is typically needed from a claimant perspective for a claim submission, it might be helpful to understand what our role as the Claims Administrator is in the process.
Once a class action settlement has been approved, a claims administrator is named and approved by the court. The purpose of the claims administrator is to handle the administrative work that leads to eligible claimants receiving compensation.
Meaning our role is defined by the court not personal discretion.
We’re required to review every claim against the same standards, ensure the documentation supports what’s being submitted, and apply the Plan of Allocation as approved.
That means sometimes we’ll ask for more information. Sometimes we’ll need clarification. And occasionally, claims can’t be approved as submitted. Not because the process is arbitrary but because it’s designed to be consistent and fair across every claimant.
To help with this, we have designed our systems to be transparent, secure, and as straightforward as possible to make sure you as the claimant are brought along with us every step of the way.
So let’s walk through the typical anatomy of a claim.
At the heart of every securities claim is one thing: your trading history. This essentially means, you will need to have or need to obtain a record of:
This documentation is essentially evidence that is required by the court to verify your claim. Typically, the type of documentation we are looking for includes:
Some people have filing cabinets full of these documents, while others might have used their old statements as kindling in the winter. The good news is statements can usually be obtained through your online bank/investment account and in most cases, you can request copies of your statements from your bank or brokerage firm.
So how do you know exactly what you need for your claim? That’s where the Plan of Allocation comes in.
Each case comes with its own Plan of Allocation (basically: the rulebook for who gets what). The Plan of Allocation outlines the methodology and formulas used to determine how settlement funds will be distributed among eligible participants. While these documents can be lengthy and highly detailed, it’s important to review them carefully so you understand:
Every case is different, but a Plan of Allocation will often address:
You’ve read the Plan of Allocation, you’ve collected the documents you will need and you are ready to submit your claim. Gold star! Based on our experience, here are some tips to ensure your submission goes smoothly and reduces the back and forth between you and your reviewer.
With our online platform, there are a few steps you will need to complete before submitting your claim.
We have created a very user friendly and secure platform for a key reason - your security. We know you are providing documents with sensitive information and we want you to feel confident when handing those over to us.
Mailing documents - Do not mail your documents to our office. Physical copies of claim documents are not accepted. In the rare case that you have been given an exception, you will be required to mail your documents to our law firm partners.
Emailing documents - We highly recommend that if you receive an email from us asking you for additional documents, that you log in to your Nuvo Claims account and upload them. If you however choose to email them to us, please ensure that the documents are encrypted. Email is NOT a secure form of communication as the email bounces around servers all over the internet and those servers may store a copy of your message and content.
The thing that creates the most back and forth and a delay on a decision about your claim is unclear, illegible or insufficient documentation. Some things to consider:
If you’re submitting for multiple accounts, separate them clearly.
In many cases, you might need to submit on behalf of a loved one or a corporation. In this case, we will need a few additional pieces of documentation.
If you’re submitting on behalf of a deceased individual, there needs to be documentation supporting that authorization (estate documents, executor/administrator proof, etc.).
If you’re submitting on behalf of someone who is living but no longer capable of submitting for themself, we will need legal documentation showing you have authority to do so. You also have the option of helping them submit by walking through the process with them and using your own email address as the main point of contact. You will however need the person you are assisting to complete their own identity verification.
If you’re submitting on behalf of a corporation, our system will prompt you to enter the name of the company and your supporting documents/statements should have the company name clearly stated.
One of the most common questions we receive is: “How long will this take?” The honest answer is that timelines vary from case to case.
In many securities class actions, submission deadlines may be extended to ensure as many eligible claimants as possible have an opportunity to participate and as such, final distribution calculations typically can’t be completed until all claims have been received and reviewed.
Review timelines can also vary depending on the volume of claims submitted, the completeness of supporting documentation and whether additional information is required.
Once claim reviews are complete and the proposed distribution has been finalized, the process will require additional court approval before funds can be distributed. While that can take time, transparency throughout the process is important to us.
The Nuvo Claims platform allows claimants to track the status of their submission throughout the review process, including whether a claim is:
For some claimants, submitting documentation online is second nature. For others, it’s not.
We know that some claimants may have:
All of which are completely understandable. However, digital submission has become the standard for a reason:
The goal isn’t to make things harder — it’s to make the process more reliable.
If submitting online feels like a hurdle, it may be worth taking a bit of extra time or getting help if needed. Ultimately it leads to a smoother and more efficient experience overall than mailing in documents and hoping for the best.
We understand that claim decisions can sometimes be frustrating particularly when a claimant believes additional shares, transactions, or losses should have been recognized. Every claim is reviewed carefully against the court-approved criteria and supporting documentation provided. But no process is perfect, which is why claimants are generally entitled to challenge a decision they believe is incorrect.
In many cases, the court appoints an independent referee or arbitrator to review disputed claims. The specific appeal process, timelines, and any associated costs are usually outlined in the plan of allocation.
To make the dispute process easier to navigate, the Nuvo Claims platform allows claimants to initiate the referee process directly through their claim portal. If a claimant disagrees with a review decision, they can access clear next steps and instructions for requesting an independent review.
Depending on the court-approved process for the case, a fee may apply to engage the referee. Typically, that fee becomes the responsibility of the claimant only if the referee upholds the original decision. If the referee overturns or modifies the original determination, the fee is generally not payable by the claimant.
The important thing here is that there is a structured process in place to ensure claimants have an opportunity to be heard if they disagree with a claim determination.
It’s easy to talk about claims in terms of data, timelines, and allocation rules but behind every submission is a real person and in many cases, a real financial loss that can be significant, unexpected, and genuinely difficult.
We haven’t lost sight of that.
At Nuvo Claims, our work sits in a structured, rules-based process set by the court but within that framework, we’re always doing our best to ensure every claim is reviewed carefully and fairly, so claimants receive everything they are entitled to under the Plan of Allocation.
We understand that the process can sometimes feel detailed, repetitive, or like a lot of hoops to jump through. It’s important to remember that those steps exist to ensure fairness for all claimants.
Our role is to help you move through that process as smoothly as possible, answer questions where we can, and make sure nothing gets missed that could impact your claim. We care about the person behind the claim and make it a priority to help individuals and institutions get the most from the process.
We can’t change the rules. But we can help you navigate them.
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