11thestate

11thestate, founded in 2020 by Stan Vick, operates as a specialized platform focused on investment recovery for individuals and institutions affected by securities fraud. The inspiration for the company came from Vick's personal experience as a 20-year investment veteran who lost $1.5 million in a biotech stock involved in alleged securities fraud. This event led him to discover a broader community of investors who had suffered similar losses but lacked the knowledge to seek compensation, motivating him to create a simplified recovery solution.

The company addresses a significant market inefficiency where billions of dollars in securities class action settlements go unclaimed annually. Statistics show that a high percentage of both individual and institutional investors do not collect the settlements they are entitled to, often due to complicated paperwork that can lead to claim rejections. 11thestate's core service is an AI-powered engine that automates the entire recovery process. It operates by scanning a user's investment portfolio, identifying all available recoveries from securities class action settlements and SEC Fair Funds, handling the necessary paperwork, and delivering the payouts directly to the client's account. This service is available to a wide range of clients, including individual investors, fund managers, advisors, broker-dealers, and other financial institutions.

The business model centers on taking a percentage fee from the funds it helps recover for its clients, which aligns the company's incentives with those of the investors. For its enterprise clients, 11thestate offers a developer-friendly API for seamless integration of its investment recovery solution. The company has demonstrated considerable traction, having helped investors claim over $100 million in cases involving major companies like Apple, Google, and FTX. In May 2024, 11thestate secured $2 million in a seed funding round led by Social Leverage, with participation from other venture funds and angel investors. This capital is intended to expand operations and further develop the platform. Strategic partnerships with platforms like TradingView and Stocktwits have been established to extend its reach to millions of users, providing them with information and access to investment recovery opportunities. Keywords: investment recovery, securities class action, shareholder compensation, SEC Fair Funds, legal tech, investor protection, portfolio monitoring, claims filing, financial technology, fintech, asset recovery, fraud compensation, class action settlements, investment losses, retail investors, institutional investors, automated claims, legal claims platform, AI-powered legal services, financial recovery