Litigation-Finance Firms Bankrolling Plaintiffs
The business of commercial litigation finance is making inroads in the United States, after it was pioneered in Australia and spread to Britain, reports Crain’s New York Business. Litigation funders pay upfront legal costs for plaintiffs or their lawyers in return for a share of a settlement, judgment or verdict down the road.
The finance firms portray themselves as white knights as they help entrepreneurial firms that retain them to wage battles against bigger, better-funded companies that steal their intellectual property, renege on contracts or commit fraud or other offenses against them.
“Many litigation-finance firms are backed by hedge funds, private-equity firms, family offices and other investors who sink millions into these funders, betting on returns that are not correlated with the ups and downs of the stock market.” Crains reports.
The TASA Group Inc., in conjunction with transportation and traffic engineer Dr. Carl Berkowitz, PE, present a complimentary on-demand webinar examining the problem of railroad grade crossing accident, which occur in this country every two hours.
A Delaware jury on Feb. 6 ordered Symantec to pay $17 million to Intellectual Ventures, the Washington-based “invention marketplace” created by ex-Microsoft CTO Nathan Myhrvold, which boasts more than 30,000 patent assets, according to a report by Ars Technica.
Portland, Oregon-based Daimler Trucks North America reached a $2.4 million settlement with six former employees who last year filed civil rights complaints alleging violent threats and racism in the workplace, reports The Oregonian.
ReposiTrak has posted a free on-demand webinar on Walmart’s 2014 settlement of 23 cases in the wake of the Jensen Farms class action litigation due to an outbreak of listeriosis linked to cantaloupes.
Ropes & Gray has published an examination of a recent 4th U.S. Circuit Court of Appeals ruling on the False Claims Act (FCA) in United States ex rel. Badr v. Triple Canopy, Inc., No. 13-2101.
The National Law Journal has posted a list of five questions that every general counsel should consider in the wake of the Sony hacking.
Sears and Overstock will have to pay software development company Droplets Inc. $15 million for patent infringement, a Harrison County, Texas, federal jury decided Friday.
DLA Piper has posted a paper about a $185 million punitive damages award won by a plaintiff in a pregnancy discrimination suit.
Apple Inc.
MetLife Inc., the U.S. life insurer deemed by regulators as too big to fail, engages in in practices that threaten national economic health, according to a lawsuit filed by a policyholder, reports Bloomberg News.
Battle lines are being drawn over last year’s Delaware court ruling that lets companies shift legal fees to investors bringing lawsuits, reports Pensions & Investments.