Should Litigation Funders Worry About Kirkland’s Push into Contingency-Fee Litigation?
Recently, law firm Kirkland & Ellis announced a ten-fold increase in investment dollars towards contingency-fee plaintiff-side claims. Alternative fee arrangements have been the most profitable component of the law firm thus far, so management figures ‘why not roll the dice’ on what’s already been working? The question now is: is Kirkland’s approach a harbinger of things to come? And if so, how will this impact litigation funders down the road?
Legal-Bay Pre Settlement Funding Preparing For Numerous Bayer Lawsuits
JERSEY CITY, N.J., July 22, 2019 /PRNewswire/ — Legal-Bay LLC, The Pre Settlement Funding Company, announced today that they have recently seen an increase in Essure birth control lawsuits, and are preparing for numerous presettlement payouts in the coming months.
Gladstone Ports Corporation Argues LCMs Funding Agreement Amounts to Champerty
The Gladstone Ports Corporation (GPC) is arguing that the funding agreement in place with international litigation funder LCM is champertous, in that it cedes too much control over to LCM, and that the funder will receive $50MM before the fishermen see any money from a payout….
How Dividex Packaged a Pair of Danish Class Actions for Litigation Funding
Dividex, the international securities class action broker and case manager, wanted in on a Novo Nordisk class action after the stock shed over $50B in the wake of fraud allegations. The only problem? No litigation funders would bite, given that the Danish Pharma company would have to face the scales of justice on its home turf (international securities actions can no longer be tried in the U.S., pursuant to a 2010 Supreme Court decision). And since funding is needed to get an international securities action off the ground, the deal was dead in the water. Until, that is, Dividex packaged the deal into its own version of a portfolio funding arrangement.
Legal-Bay Pre Settlement Funding Focusing On IVC Filter Cases
JERSEY CITY, N.J., July 17, 2019 /PRNewswire/ — Legal-Bay LLC, The Pre Settlement Funding Company, announced today that they continue to see a large volume of IVC filter patients needing cash advances. Top IVC filter manufacturers have recently lost bellwether trials, and Legal-Bay believes this could signal a shift toward settling pending cases within the upcoming months.
Canadian Innovator JL Energy Transportation Inc. Successfully Defends Patent Challenge From Major Canada/US Pipeline and Gas Processing Companies
CALGARY, July 17, 2019 /CNW/ – JL Energy Transportation Inc. (“JETI”, more: www.jlenergy.com) announces that it has successfully defended a Federal Court challenge to its gas transportation patent, with the Court confirming the validity of its key patent terms. This endorsement clears the way for JETI’s continuation of its license and patent infringement claims against an alliance of major Canadian and US pipeline and gas processing companies.
Pair of Funders Financing Shareholder Class Action Against Estia Health
Investor Claim Partner and Litigation Lending Services are funding a shareholder action being brought by law firm Phi Finney McDonald against aged-care company Estia Health. The claim will be brought in the Federal Court of Australia.
IMF Bentham Welcomes Victorian Government into Cladding Class Action
The government of Victoria, Australia, is considering joining the claimant pool in the IMF Bentham-funded class action against the Australian federal government. IMF would welcome the government of Victoria as a claimant, with investment manager Gavin Beardsell asserting that his claim is the easiest way for Victoria to offset its own liability costs.
The Perils of Crowdfunding Litigation
GoFundMe recently cancelled an Australian rugby player’s crowdfunded legal campaign, and the story made international headlines. Now some experts are scrutinizing the ethical and practical concerns of crowdfunding litigation; some of which will sound very familiar to litigation funders, yet others are unique to the crowdfunding niche.
BroadRiver Welcomes Emma Dickson as General Counsel and Chief Compliance Officer
NEW YORK–(BUSINESS WIRE)– BroadRiver Asset Management, L.P., a New York based manager of alternative assets announced today that Emma Dickson has joined the firm as General Counsel and Chief Compliance Officer and a key member of the firm’s management team.
