Financial Recovery Technologies Selected by State Street to Enhance Global Class Actions Service

MEDFORD, Mass., Jan. 21, 2026 /PRNewswire/ -- Financial Recovery Technologies (FRT), the leading global provider of securities class action recovery services, today announced a strategic relationship with State Street to support and expand the custody bank's class actions program across global markets. Through this collaboration, State Street will leverage FRT's technology, expertise, and operational scale to deliver enhanced class action filing and recovery solutions for its clients.

"This relationship builds on our shared vision to provide clients with innovative, value-added solutions that improve transparency, operational efficiency, and governance outcomes," said Michael Cotter, President at FRT. "FRT's market leading platform and litigation intelligence enable us to offer State Street's clients a more comprehensive solution and expanded coverage that adapts to the growing complexity of global class actions."

"Financial Recovery Technologies' solution will strengthen our class actions service offering by adding scale, transparency, and advanced analytics," said Chris Rowland, Head of Custody, Digital and Fund Services Product at State Street. "These enhancements will expand coverage, leveraging advanced technology and actionable market intelligence that aim to maximize recovery opportunities for clients."

FRT's class action portal supports transparency throughout the lifecycle of each case, from settlement to remittance, and includes features such as an Executive Dashboard, custom filtering, and real-time case alerts.

"Partnering with State Street allows us to bring our advanced capabilities to a broader client base," said Malav Mehta, SVP of Product at FRT. "From pre-filing analytics and data reconciliation to recognized loss calculations and payment validation, our platform is designed to maximize recovery outcomes while reducing administrative burden."

Headquartered outside of Boston, MA, with offices in London, Sydney, and New York, FRT provides securities class action recovery services and compliance solutions to more than 2,500 institutional clients worldwide. Its reputation for industry expertise, unbiased legal insight, and dedicated service teams makes it the trusted partner for global class action recovery.

About Financial Recovery Technologies

Financial Recovery Technologies (FRT) is a global technology and services firm helping institutional investors unlock operational alpha amid increasingly complex financial and regulatory environments.

FRT's industry-leading class action platform maximizes recoveries across securities litigation and antitrust settlements worldwide through advanced eligibility analysis, claims management, and fund recovery. With the 2024 acquisition of Skematic—a purpose-built compliance management system—FRT now enables compliance teams to replace manual workflows and fragmented tools with a centralized, automated, and audit-ready framework.

Together, FRT's solutions streamline middle- and back-office operations, helping clients meet fiduciary and regulatory obligations with greater efficiency, transparency, and control. Financial Recovery Technologies is a Cross Country Group company. Learn more at  www.frtservices.com.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $53.8 trillion in assets under custody and/or administration and $5.7 trillion* in assets under management as of December 31, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 52,000 worldwide. For more information, visit State Street's website at  www.statestreet.com.

* Assets under management as of December 31, 2025includes approximately $173 billion of assets with respect to SPDR^® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Investment Management are affiliated.

Media Contact: Jennifer Rothenberg, jrothenberg@frtservices.com

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