Executive Summary
As LFJ reported last week, Louisiana has become the latest state in the US to advance new legislation that more closely regulates third-party litigation financing and increases disclosure requirements for…
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.
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….
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.
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.
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…
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.
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…
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…
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…
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.
In 1977, the United States Supreme Court ruled that legal advertisements are protected by the first amendment. The court highlighted that restrictions on legal marketing hampered access to justice “particularly…
Katonah NY. Modeso LLC D/B/A Rapidfunds (“RF”), today announced that they have signed an agreement with Amicus Capital (“AC”), a prominent investment firm in the legal financing market, establishing a partnership to provide financing to law firms throughout the United States. Through this partnership, RF and AC will market each other’s services to existing and prospective law firms on a nationwide basis by leveraging their extensive databases of law firms.
Litigation funding has reached a level of maturity where it is now viewed as a common feature of many jurisdictions’ legal systems, rather than a rare occurrence, leading to wider conversations about how its use should be regulated by national governments. Whilst criticism of the practice exists from politicians and third-party pressure groups in the U.S., it is important to note the role of government agencies in shaping the future of regulation, including the Government Accountability Office (GAO).
Legal-Bay LLC, The Pre Settlement Funding Company, reports today that a large portion of their pre-settlement cash advance funding capital will be directed toward victims of wrongful unemployment. Legal-Bay has vast experience with unlawful termination lawsuits related to sexual harassment and retaliation as well as racial, gender, or age-related discrimination. Based on recent court case trends, Legal-Bay anticipates even more wrongful termination lawsuit filings to come.
Litigation Finance Journal recently reported on a group of 14 state attorneys general that have called for action from the Department of Justice to review potential threats to U.S. national…
The United States Chamber of Commerce Institute for Legal Reform recently warned that litigation finance is a potential risk to national security. Bloomberg Law has published a rebuttal to such…
Recent discussion around the risks of litigation funding have highlighted the potential threat of foreign actors using third-party funding of lawsuits to harm U.S. national security. This claim, which was…
Mill City Ventures III, Ltd. (“Mill City”) (NASDAQ:MCVT), a specialty short-term finance and non-bank lender, announced today that, in accordance with its previously announced letter of intent regarding a proposed merger transaction with Mustang Funding, LLC dba Mustang Litigation Funding (“Mustang”), it has entered into a $5 million short-term financing arrangement with Mustang in furtherance of the proposed merger. The related short-term note is scheduled to mature on the ninth-month anniversary of the loan.
Mill City Ventures III, Ltd. (“Mill City”) (NASDAQ:MCVT), a specialty short-term finance and non-bank lender, announced today that it has entered into a non-binding letter of intent for a merger transaction with Mustang Funding, LLC dba Mustang Litigation Funding (“Mustang”), a Delaware limited liability company owning and operating a Minneapolis-based litigation finance business focusing on the long-term capital needs of law firms, plaintiffs and vendors.
Leading claims automation solution FinLegal has appointed Connor Goggin, as a Senior Product Specialist, to work closely with US firms and litigation funders to replicate its success in the UK. Connor joins FinLegal with extensive experience in SaaS (Software as a Service) and legaltech sales.
As the litigation finance industry has matured, the possibility of funders running afoul of legal oversight grows. This was the case in a recent settlement between RD Legal Funding LLC…
New York attorney Marc Elefant has reversed his previous non-guilty plea, now pleading guilty to one count of conspiracy to commit wire fraud in the organization of a lucrative slip…
Harrison, New York based Altuitive Partners LLC (Altuitive), an investment management company led by alternative investment veteran, Robert Cannon CFF, MBA, AIFA, announces the launch of MedResolve, a litigation financing company dedicated to providing funding solutions to personal injury plaintiffs, healthcare professionals and attorneys.
One area of litigation funding that receives less time in the spotlight but carries great importance is in the realm of medical malpractice and personal injury cases. According to industry…
The medical malpractice field has always been a contentious and active area of litigation, with a volume of cases that is constant and not as affected by economic conditions as…
While many small funders maintain niche or industry-specific practice areas, or in some cases take a regional approach, the industry is now seeing some of these smaller funders join forces…
Investors continue to see litigation financing as a lucrative investment, not only seeking returns from individually funding cases, but also through investments in leading funders. Experity Ventures is the latest…
Due to the increasing number of vehicle accidents and related lawsuits, High Rise Legal Funding announced they are focusing on car accident pre-settlement funding in 2022.
