• Senior Director, Operations
  • jose.fraga@gardencitygroup.com
  • 631-470-1832
  • Core Strengths

    Class Action
    Mortgage Backed Securities
    Legal Notice
    OTC
    Securities

     

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Jose C. Fraga

Having directly overseen and effectuated hundreds of class member identification and outreach campaigns – including some of the most complex of all time – Jose Fraga’s notice administration experience is unparalleled. Over the past decade at GCG, he has executed hundreds of notice program affidavits and has testified in court as to the effectiveness of GCC’s notice programs on numerous occasions, including for the $8 billion Countrywide RMBS Settlement.  For that case, he oversaw the design and implementation of a global media campaign in 17 publications in over 10 different countries and translated into 10 different languages.  He also handled notice for the $1.1 billion Royal Ahold N.V. Securities & ERISA Litigation for which GCG mailed hundreds of thousands of notice packets to more than 24 countries in 16 languages. In the even more complex IPO Securities Litigation case, he effectuated GCG’s mailing of notices to over 10 million class members. Since the suit involved 309 separate securities/issues, and each class member received a customized, unique cover letter related to which securities they purchased, thousands of different customized letters were required.

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Having directly overseen and effectuated hundreds of class member identification and outreach campaigns – including some of the most complex of all time – Jose Fraga’s notice administration experience is unparalleled. Over the past decade at GCG, he has executed hundreds of notice program affidavits and has testified in court as to the effectiveness of GCC’s notice programs on numerous occasions, including for the $8 billion Countrywide RMBS Settlement.  For that case, he oversaw the design and implementation of a global media campaign in 17 publications in over 10 different countries and translated into 10 different languages.  He also handled notice for the $1.1 billion Royal Ahold N.V. Securities & ERISA Litigation for which GCG mailed hundreds of thousands of notice packets to more than 24 countries in 16 languages. In the even more complex IPO Securities Litigation case, he effectuated GCG’s mailing of notices to over 10 million class members. Since the suit involved 309 separate securities/issues, and each class member received a customized, unique cover letter related to which securities they purchased, thousands of different customized letters were required.

 

Mr. Fraga oversees all broker and nominee outreach and class member identification efforts in every one of GCG’s securities class action shareholder administrations. He has significantly contributed to the development of GCG’s proprietary nominee database by maintaining extensive relationships with banks, nominees, brokers, clearing firms, indenture trustees, and transfer agents in an era characterized by the fall out of the 2008 financial crisis, high turnover, and extensive outsourcing of back office functions by banks and brokers. These relationships are key drivers to the success of many securities class action administrations at the noticing stage, ensuring that GCG’s database is always up-to-date.

 

Mr. Fraga also handles disclosure-only settlements. Last year, he completed a large notice program for a settlement involving the $6 billion acquisition of LSI Corporation and, more recently, he completed notice programs for the CareFusion and International Game Technology litigations. In New York State, Mr. Fraga led GCG’s implementation of ground-breaking multinational notification programs involving multibillion dollar mortgage-backed securities settlements. He is frequently consulted in the early stages of settlement for assistance in identifying class members in unique cases involving sophisticated securities. After an administration is underway, his knowledge of the markets and brokers/nominees enables him to assist individual class members.

Prior to joining GCG, Mr. Fraga practiced corporate finance law at both Skadden Arps Slate Meagher & Flom, and Morgan Lewis & Bockius, where he worked on stock offerings, SEC registered exchange offers, private offerings and exchanges of notes, bonds and other publicly-traded non-equity securities.

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Education

  • Georgetown University Law Center, J.D.
  • Fordham University, B.A.

Trade Organizations

  • New York State Bar Association