Category Archives: Consumer
Legal-Bay Pre-Settlement Funding Announces California’s Possible $3 Billion Payout for Sexual Abuse Victims
Legal-Bay, The Pre Settlement Funding Company, announced today that Los Angeles County is preparing to spend a sizable chunk of their proposed annual budget to resolve the thousands of sexual abuse claims that plaintiffs say they suffered within the walls of state-run institutions. The county’s juvenile halls have been the focus for many of the allegations, where a multitude of plaintiffs claim they were verbally, physically, and sexually abused while living within the facilities as minors.
A Mutually Beneficial Approach to Litigation Funding
Discussions around the use of litigation funding often focus on the individual relationships between funders and law firms, or between funders and the claimant, and evaluate these dynamics in isolation. A new blog post takes a step back and looks at the harmonious and mutually beneficial relationship between all three of the core parties, in…
KBRA Assigns Preliminary Ratings to US Claims LFS Securitization 2023-A
KBRA assigns preliminary ratings to three classes of notes issued by US Claims LFS Securitization, Series 2023-A (LFS 2023A), a litigation finance ABS. LFS 2023A represents the ninth ABS collateralized by litigation finance receivables to be sponsored by US Claims Holdings, LLC (US Claims or the Company). US Claims, originally established in 1996 and acquired in 2014 by Blackstone Tactical Opportunities as a subsidiary of Majestic Financial Holdings, LLC, is a leading provider of non-recourse advances to plaintiffs and attorneys with pending legal settlements across a variety of case types. Through its strategy of keeping “Litigation Funding Simplified”, the Company has funded over $800 million of litigation finance since 2010. The Company has 100 full-time employees across its headquarters in Delray Beach, FL and support offices in Clearwater, FL and Moorestown, NJ.
Pre-Settlement Funding Firm Expects Johnson & Johnson Talcum Based Baby Powder Cases to Settle By Year’s End
Legal-Bay, The Pre Settlement Funding Company, announced today that they expect a global settlement to be reached in the landmark Johnson & Johnson Baby Powder Talc cases. It will be one of the largest mass tort settlements in U.S. history, costing J&J over $10 billion to resolve over 100,000 claims.
California Litigation Funding Bill Drops Mandatory Disclosure Requirements
Attempts to regulate litigation funding and provide additional oversight into the practice have been gaining momentum, not only on a national level in several countries, but also by individual state legislatures in the United States. As LFJ reported in March, one such attempt has begun in California where State Senator Anna M. Caballero introduced the…
Gain Brand Launches, Commits to Leveling the Insurance Playing Field
Gain, a comprehensive medical lien servicing and legal funding company with an artificial intelligence-powered platform, launched today. Previously, the company had been doing business as a variety of operating companies, including Cherokee Legal Holdings, Cherokee Funding and Gain Servicing. The rebrand is meant to streamline the companies and build efficiencies in order to serve as a centralized, AI-powered hub to those with medical lien servicing and legal funding needs.
LinkedIn Co-founder, Reid Hoffman, Funding Lawsuit Against Former President Trump
Whilst the litigation industry has continued to grow in both the scale and volume of activity in recent years, it remains a sector that the wider public is largely unaware of, and most cases proceed unnoticed by mainstream media. However, a notable exception to this trend appeared last week when it was revealed that a…
California State Senator Introduces Bill to Regulate Lawsuit Lending
2023 is shaping up to be a year in which legislation focusing on the regulation of litigation finance will become a regular feature, ranging from the potential implementation of the Voss Report’s recommendations in the EU, to state-level legislation in the United States. A new development in California has seen a State Senator introduce a…
Litigation Funders Win Dismissal of Claims Brought in California Bankruptcy Court
Whilst litigation funders are most often the ones financing plaintiffs’ claims, occasionally they may find themselves on the receiving end of litigation and having to fight their own cases. In an update to an ongoing dispute in California, two litigation funders have successfully won a dismissal of all claims against them regarding allegations that they…
Risk Settlements Announces Name Change to Certum Group
Risk Settlements, which provides bespoke solutions for companies facing the uncertainty of litigation, has changed its name to Certum Group. Latin for “certainty,” Certum represents the core benefit the company delivers to its clients across its entire suite of solutions.
