Secondary Market Maker


Vibrant Secondary Markets


CCC excels in creating robust secondary markets for class action coupons, and stands alone as the premier market maker for coupon settlements. In pre-CAFA days, class actions were settled regardless of their prospective redemption rates. As a result, most coupon settlements ended with low redemption rates, failing to justly compensate class members who had been allegedly harmed by defendants. Many plaintiff’s attorneys were criticized for not abiding by their fiduciary duties and became reluctant to utilize non-monetary relief in settling antitrust class actions.

To remedy this, CAFA was passed, requiring plaintiff’s attorneys’ fees be tied to the success of the coupons. Naturally, that can be problematic for plaintiff’s attorneys, who are experts at settling complex litigation, not market making.  

That’s where CCC comes in. For 25 years CCC has significantly impacted the redemption rate in numerous coupon settlements. Indeed, harmed class members have received over $300 million dollars directly as a result of CCC’s efforts. 

One recent post-CAFA example was the Linens Antitrust Litigation. CCC, acting as the court appointed coupon consultant, market maker and coupon administrator, generated an unprecedented 93% redemption rate. 

Currently, CCC is consulting on the Korean Air Antitrust Litigation. CCC is the court appointed coupon consultant, coupon administrator and coupon market maker. We look forward to creating a superb coupon settlement for all the Korean Air Litigation parties. 

CCC would like to do the same for you.


Our main tasks as a coupon market maker include:


  • Conducting auctions to match buyers and sellers
  • Negotiating post-auction transactions between buyers and sellers of coupons
  • Brokering private transactions between buyers and sellers of coupons
  • Purchasing coupons from prospective sellers
  • Liquidating market by reselling coupons to prospective buyers

For more specific details on the results of our secondary coupon markets button, click here.