Category Archives: Case Developments
ANZ Bank and Ross Asset Management Reach Settlement Agreement
Investors in Ross Asset Management have recently reached a settlement with ANZ, a joint statement revealed. The case alleged that the bank knew, or should have known, that David Ross was essentially engaged in a Ponzi scheme.
Legal-Bay Lawsuit Funding Announces Roundup Litigation Settlements Still Have No Definitive Timeframe
Legal-Bay, The Presettlement Funding Company, reports that Bayer is reassessing its efforts to settle the numerous lawsuits they are facing due to their Roundup brand weed killer. It is estimated that 30,000 plaintiffs still have outstanding suits against Monsanto (a subsidiary of Bayer), claiming the company’s product is directly responsible for making them sick. Certain cancers are alleged to have been caused by the glyphosate-based herbicide including non Hodgkin lymphoma.
Funder and Firm Win Fees from Terminated Client Relationship
His Honor Judge Cadwallader ruled that a couple suing their former solicitors should be held liable for costs. The Liverpool judge also affirmed that Vanessa and Michael Kennedy breached their agreement with law firm Bermans and the funder, Escalate Law, when they misled their lawyers.
What is ‘Super Priority’ Financing?
The High Court of Singapore took a dramatic step recently in granting ‘super priority’ status in a corporate restructuring. This is the first time any third-party legal funder has been given such an order since Singapore’s IRDA became law in 2018
Disclosure Reveals Non-Profit Funding Climate Change Litigation
New Jersey’s new disclosure rule regarding third-party legal funding is in effect. As such, a recent climate change case saw the disclosure of a non-profit providing limited funding for attorney fees and expenses. Wisconsin state courts and federal courts in the Northern District of California have adopted similar rules in recent months….
German Asset Manager Sues Over Wirecard Bankruptcy
A lawsuit brought by Union Investment, Germany’s third-largest asset manager, is not welcome news for banks and bondholders. Wirecard is accused of making more than 70 statements, including corporate press releases, that are being described as fraudulent.
Motion to Disclose Legal Funding Agreement Denied in Boeing Action
A motion to compel disclosure of a funding agreement was denied in a recent case accusing Southwest Airlines and Boeing of collusion to cover fatal aircraft defects. Damonie Earl et al v Boeing revolves around allegations that Southwest and Boeing colluded to mislead ticket buyers about 737 Max Jets—which were defective.
Claims of Investment Losses Spark Investigation
Leading litigation funder Omni Bridgeway is currently investigating claims made by CMC Markets’ Crude Oil West Texas Intermediate Cash product. Investors are encouraged to register their interest in a potential class action relating to investment losses and damages. This is not book building, but rather a gauge of interest in the matter.
Class Action Against Mayne Pharma
In 2016, anti-trust proceedings were filed against Mayne Pharma, asserting that it conspired with other defendants to artificially inflate generic pharmaceutical prices and restrain trade. This led to a 10% price drop over several days of trading.
Lloyds of London Class Action Seeks Additional Claimants
Attorneys for a class-action case filed against Lloyds of London are asking other affected businesses to join the action. The focus of the case involves business interruption insurance, and whether or not COVID-related closures should be covered.
