New York, NY, August 29, 2005 â Xcitek, the leading global provider of market data, Corporate Actions software, and staffing solutions, today announced that Brotherhood Bank & Trust has selected its new Xcitek Class Actionsâ¢ service to help manage the growing burden of tracking and participating in Securities Class Actions.
"We are pleased that Brotherhood Bank & Trust has chosen our new Xcitek Class Actions service," said Charles W. Price, Senior Vice President at Xcitek. "The product was designed specifically for financial institutions like Brotherhood which, whether acting as principal or in trust for clients, need to stay abreast of securities class actions developments that impact their portfolios."
"We selected Xcitek Class Actions after a careful evaluation of the service," said Richard Hampton, Vice President, Brotherhood Bank & Trust. "We found the service to be fairly easy to use in identifying class actions that are important to us, and gave us some tools to manage the process so that important developments, such as filing deadlines, do not pass without our decision on the action."
Released in July of 2005, Xcitek Class Actions is a web-based service that helps financial institutions identify, track and collect funds emanating from securities class actions. It contains features, such as customized watch lists, email alerts and portfolio monitoring, that enable users to stay abreast of developments in the growing area of securities class actions.