Category Archives: Premium
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?
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.
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.
$4 Billion Therium-Funded Google Class Action Sees Light of Day in UK Court of Appeal
After being tossed out by the High Court, the $4 billion Therium-funded Google class action has reached the UK Court of Appeals. The lead applicant, Richard Lloyd – a former consumer rights organization director – is claiming Google owes 4.4 million Brits hundreds of pounds each for its nefarious ‘Safari Workaround’ software, which was allegedly used to spy on iPhone users.
Domino’s Could Be on the Hook for AUD $100MM in Therium-Funded Class Action
Law firm Phi Finney McDonald and litigation funder Therium Capital Management are filing a class action which alleges that Domino’s underpaid delivery drivers and in-store workers. Estimates put the total claim amount around AUD $100MM.
UK-Based AI Firm Aims to Predict Case Outcomes for Litigation Funders
Anyone involved in litigation would love to have a crystal ball to help predict how things will pan out. If one UK-based startup is to be believed, that crystal ball may already exist.
Concern About Defendant Insolvency in Harbour-Funded New Zealand Class Action
Law firm Adina Thorn is bringing a class action – funded by Harbour Litigation Funding – on behalf of homeowners who experienced damage to their properties due to leaky cladding installed by the James Hardie multi-national conglomerate. The James Hardie parent company is based in Ireland, and attempting to exclude it and all international subsidiaries from liability, leaving the New Zealand subsidiary as the sole defendant. However, Thorn claims the New Zealand subsidiary is insolvent, and that the parent company should therefore be on the hook.
