What happens in the event of duplicate class action claims?

When an advisor/broker takes an action on the behalf of their client, the client will receive a text message and an email asking them to confirm the advisor’s/brokers’ actions.

Additional Information…

Once enrolled in the IBKR Securities Class Action Recovery service, IBKR will notify you when a security you bought or sold is subject to a class action lawsuit and inform you of when a claim is filed. Any monetary compensation received in connection to your claim will be electronically deposited to your IBKR account…

The Securities Class Action Recovery only covers securities issued by the publicly traded company and not derivative instruments issued by a clearinghouse. Shares acquired via option exercise would be covered, however, assuming that the account holder was an shareholder of record for the period covered by the claim…

Fully-paid securities are securities in a customer's account that have been completely paid for. Excess margin securities are securities that have not been completely paid for, but that represent the aggregate loan value and market value of each class or series of security required to be segregated for each client as determined under CIRO Rule 4316 divided by the loan or market value, as the case may be, of one unit of the security…