Securities class actions – group litigation on behalf of those individuals or companies who have bought securities in or through a corporation which participated in illegal mis-management or fraudulent stock manipulation- are common in the United States, where 99 cases took place in 2008, representing $31 million dollars in settlements. The number of similar lawsuits could increase as a result of the recession- more cases seem likely and clients may be motivated to act quickly. Goal Global Recoveries Limited, part of the Goal group of companies, is based in the UK and serves a European, American and British market. Established in 1989, Goal initially began business as a project management specialist for the securities and banking industries. It provides an integrated research, planning and client support service from its London base.
Class action lawsuit
It began its class actions service in 2007. It specialises in obtaining financial settlements for companies and individuals who, as shareholders in companies that have experienced financial mis-management, have made losses. Goal Global Recoveries Limited believes that as much as 8 billion Euro a year of withholding tax remains unclaimed by those who have suffered such financial situations. It has acted to successfully claim on behalf of clients including asset managers, private banks, pension funds, hedge funds, brokers and managers across the United States and Europe. Its Directors have extensive senior management experience in stock broking, fund management, securities, accountancy and tax law, with European, Canadian and American institutions. The Board is supported by a team specialising in tax reclaims.