RMBL Agrees to Settlement in Litigation Lending Services Class Action
Litigation Lending Services has been funding a Maurice Blackburn-led class action against mortgage lender RMBL Investments, for alleged breach of contract and misleading and deceptive conduct regarding collection charges the company enforced on borrowers. Now, RMBL has agreed to compensate class members to the tune of $3MM.
Colorado Court Unseals Litigation Funding Agreement, Orders Mediation Between Parties
In List Interactive, Ltd. v. Knights of Columbus, Judge R. Brooke Jackson denied a motion to restrict public access to litigation funding agreements, finding that the content of the agreements are in the public interest. Judge Jackson confirmed that dollar amounts and specific terms may constitute trade secrets, but ruled that restricting access to the entire agreement is ‘grossly overbroad.’
Thomas Girardi Loses Motion to Dismiss Lawsuit by Stillwell Madison
Famed plaintiff attorney Thomas Girardi lost his motion to dismiss a suit by law firm funder Stillwell Madison. An Arizona court ruled that Girardi’s lawyers failed to apply for pro hac vice status at the time of the filing.
Litigation Funding in India is Growing
According to the Amendments to the Code of Civil Procedure, 1908, (Order XXV Rule 3), litigation funding in India is permissible, in that non-lawyers are not restricted from accepting remuneration upon a completed claim. With recent litigation funding partnerships in the engineering and construction sectors, it seems litigation funding in India is poised for growth.
Should Lawyers Partnering with Funders Have Skin in the Game?
Among the chief concerns over the rise of litigation funding are the potential growth of frivolous lawsuits, and funder control over case decisions. While those worries haven’t exactly panned out as many industry skeptics had imagined, they remain nagging concerns as the funding industry continues to expand with new entrants and capital sources. One unifying solution to both of these ethical problems is to mandate that lawyers who partner with litigation funders operate on success-based fee arrangements.
Court Rejects Florida Attorney’s Bid to Dismiss Litigation Funder’s Lawsuit Involving NFL Concussion Settlement
An Illinois federal judge rejected a Florida attorney’s motion to squash a lawsuit from a litigation funder who is accusing him of making misleading statements regarding his clients – ex-NFL players involved the NFL concussion settlement.
Harbour Litigation Funding expands European team with hire of Theo Paeffgen
Theo Paeffgen joins Harbour Litigation Funding today as a Director of Litigation Funding focusing on Continental Europe. Prior to joining Harbour, Theo was Regional Managing Director (DACH) at Vannin Capital, having acted as CEO of FORIS, a German focused litigation funder.
Legalist Announces $500MM in Case Recoveries
Legalist, the AI-based litigation funding firm, has announced $500MM of case recoveries spanning 20 concluded claims. The Peter Thiel-backed funder uses an algorithm to source cases, which helps keep costs down, thus enabling it to invest in the small-to-mid-claims market.
CitiGroup Partners with YieldStreet
CitiGroup has announced a partnership with digital wealth management platform YieldStreet, to provide credit investments to retail investors. YieldStreet offers numerous alternative investment opportunities, including litigation finance.
Delta Capital Partners Management LLC, Chicago-Based Litigation Finance Firm, Announces New Offices and Hires
CHICAGO, Jan. 8, 2020 –Delta Capital Partners Management LLC, a private equity and advisory firm specializing in litigation finance, today announced major milestones in its growth.
