STAMFORD, Conn.--(BUSINESS WIRE)--Battea – Class Action Services, LLC, the industry’s leading provider of securities class action recovery services for institutional investors, announced that a New York Court has dismissed a lawsuit brought against the Company in New York by Infinity Financial Partners, Inc. and its principal, Jeff Doria.
In its lawsuit, Infinity had claimed that Battea was obligated to pay Infinity and Doria certain client referral fees. However, Justice O. Peter Sherwood of the Supreme Court of New York, in Manhattan, disagreed and ordered dismissal of all of Infinity’s claims against the Company on the grounds that it had not entered into the referenced contract with Infinity or Doria. As a result, the Court held that the Company had no obligation to pay any monies to Infinity or Doria.
This is not the first time a lawsuit filed by Infinity and Doria against the Company has been dismissed. Infinity’s prior lawsuits in the United States District Court for the Southern District of Florida and the Southern District of New York were also dismissed in 2008 and 2010, respectively.
Peter K. Hansen, Chairman of the Company stated, “Our Company has an impeccable record and in its ten year history has never been sued in any other matters. This was nothing short of an opportunistic suit that became a nuisance for the Company. We are gratified that the Court recognized that Infinity’s and Doria’s claims against Battea-Class Action Services were baseless and without any merit.”
About Battea - Class Action Services, LLC (www.battea.com):
Through its proprietary technology platform, The Claims Engine®, Battea – Class Action Services optimizes class action settlement award recovery across all asset classes for more than 200 institutional investors, including hedge funds, asset management firms, sovereign and pension funds, endowments and family offices. The Company provides a full-service solution for the entire securities class action award recovery process - from calculating recognized loss for every claim through the confirmation, receipt and delivery of settlement payouts.
Battea is the industry leader and has been recovering funds for clients since 2001. Through significant on-going, focused investments in its case claims algorithms, advanced technology platform, infrastructure, and human capital, the Company continues to set new standards that other industry participants aspire to achieve. Battea is the only securities class action recovery firm that is fully SAS-70 compliant across all internal operations and external data center/networking partners.