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Rhys Dipshan of Legaltech News delves into the surge of fraudulent claims for class action settlements, which has created a business opportunity for legal tech companies to develop solutions to curb this fraud. ClaimScore’s Bryan Heller explains the market opportunity and how AI is helping combat AI-driven fraud in class action settlements.
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Reuters spoke with ClaimScore co-founder Don Beshada about the rise of claims fraud in class actions. Fraudulent claims have exploded in the last year, siphoning money out of settlements and threatening the class action system itself.
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ClaimScore, a startup combating fraud in class action lawsuits with AI, closed a $3.15 million seed funding round led by ROC Venture Group.
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ClaimScore, an anti-fraud software solution for class action settlements, secured a $3.15 million seed funding round on Wednesday to resolve the growing fraud problem in the legal industry.
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ClaimScore, a leader in AI-powered claim validation for class action settlements, closed a $3.15 million seed funding round led by ROC Venture Group.
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AI startup ClaimScore, which focuses on detecting fraudulent claims in class action lawsuits, secured $3.2 million in seed funding. The round was led by ROC Venture Group, according to an exclusive report by Axios.
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In a recent article for Law.com, ClaimScore Co-Founder and CPO Bryan Heller explains the challenges of programmatic fraud in mass litigation, as highlighted by the Altria/Juul class action. Settlement administrators were inundated for 14.4 million claims -- nearly five times the anticipated volume -- driven by a surge in AI-based fraud.
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Transparency and accountability are cornerstones of the American legal system. In class action lawsuits, where a large group of individuals with similar claims join forces against a defendant, these principles are even more critical. However, a concerning trend has emerged: the exclusion of class members from settlements without proper justification or transparency. This raises serious questions about fairness, accountability, and the very foundation of evidence-based decision making.
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Angeion Group, a pioneer in class action settlement solutions, is pleased to announce its strategic partnership with ClaimScore, an industry leader in AI-driven claim validation software.
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The company behind the first and only AI and machine learning-based claim management and anti-fraud software solution for class action settlements - today announced the launch of its “plug and play” API for class action administrators.
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