“Given the tight timetable on the deal, it would have been impossible to complete the verification on time without Atticus."

Summary

WHO
Global Law Firm - Most Innovative Law Firm in Europe - FT Innovative Lawyer Awards 2020.
VERIFICATION
AIM IPO
INSIGHT
Atticus supported 13 users to verify the 140-page admission document & 43-page marketing presentation.

The challenge

Pinsent Masons LLP was engaged by their client ahead of listing on the London Stock Exchange (LSE). With tight deadlines on the verification, the London Corporate team relied on Atticus to streamline the process. 

Pinsent Masons adopted Atticus looking to implement a well-structured, efficient, and easy-to-follow verification process, to ensure tight transaction deadlines could be met without sacrificing any quality of service to clients.

Prior to Atticus, Pinsent Masons undertook manual verification using Word. This meant creating a table and copying each verification statement across, row-by-row, from a complex admission document.

Manually creating this table took half a day, with hours spent keeping it updated. Another pain-point was version control and reporting, requiring a cumbersome process of running compares in Word, manually updating the table of statements, and circulating regular transaction updates via email.

The solution

INTUITIVE

Both Pinsent Masons lawyers and their client users (who were new to the verification process) found it easy to get started on Atticus, describing the platform experience as “very intuitive and self-explanatory”

INSTANT REPORTING

By automating hours of manual verification work and providing a live visual reporting platform, Atticus made the entire verification process easier.

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Atticus enabled us to create accurate and easy-to-read verification notes, so we could deliver the necessary information in the most convenient way for our client.

Tsvetan Petrov, Associate

COLLABORATIVE & CLIENT FRIENDLY

The interactive platform allowed Pinsent Masons’ client to participate directly in the process by uploading documents, verifying statements with supporting evidence, and inserting verification commentary.

According to Tsvetan, “this saved us a lot of time and effort, especially when the subject matter was very technical. Our client appreciated this too, because they could complete the work at their own pace, given how busy they were throughout the IPO process”.

The platform also allows the investment banks and their lawyers access to the verification materials, speeding up their review process.

This helps avoid the need to share notes, materials and comments over email – something else that adds time to the process.

The success for Pinsent Masons

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Roughly, Atticus saved us 5-6 hours per day.

Tsvetan Petrov, Associate

By automating the verification process, and streamlining management processes such as new version uploads and progress reporting, Pinsent Masons lawyers saved a significant amount of time. "Roughly, Atticus saved us 5-6 hours per day", insists Tsvetan. This enabled Pinsent Masons to meet short timeframes and deliver on behalf of their client.

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It wouldn’t have been possible to complete the verification of the admission document on time without Atticus.

Gareth Jones, Partner

FOCUS ON QUALITY

Atticus relieved the administrative burden of manual verification, enabling the lawyers to focus on reviewing verification commentary and ensuring the verification was completed to a high standard.

By saving us so much time on administrative tasks, Atticus enabled us to focus on the quality of the verification,” says Associate Amy Moore. “This reduced a lot of pressure on our team, ensured a smoother verification process, and enabled us to better manage our time.

COMPETITIVE ADVANTAGE

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By using Atticus on every deal where we are acting company-side,
we are way ahead of our competitors.

Amy Moore, Associate

Pinsent Masons became the first UK/EU firm to adopt Atticus globally in 2020.

Since then, Pinsent Masons’ teams have collaborated with their clients and other stakeholders on Atticus for the efficient verification of a range of regulated disclosures including presentations, offer documents, announcements, and scheme documents.

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When we are acting bank-side and the company-side lawyers are doing the verification manually, rather than using Atticus, it reminds us how cumbersome a traditional verification exercise can be.

Amy Moore, Associate

The future

MOST INNOVATIVE LAW FIRM IN EUROPE

Pinsent Masons was named the Most Innovative Law Firm in Europe at the FT Innovative Lawyer Awards Europe in 2020.

Partnering with technology companies such as Atticus allows Pinsent Masons lawyers to work efficiently and collaboratively with their clients, offering a new standard of service.

why recommend atticus?

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The biggest reason we recommend Atticus is because it saves so much time, allowing us to focus on the quality of the verification and enabling us to deliver quality service for our clients, even when the timetable is very tight.

Amy Moore, Associate

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Quote marks for an Atticus case study
With Atticus, verification no longer needs to be the most painful part of the disclosure process