June 21, 2021

Technology-enabled litigation funder Legalist has announced the addition of Anand Upadhye, former VP for Business Development at Casetext, as Director of Investments, and Jaemin Chang, a former trial attorney and business adviser at Fox Rothschild, as Assistant General Counsel.
Kate Bowden of Taylor Wessing reviews a recent UK decision in which the Arkin cap approach was once again considered by the court in a costs decision and feels that this latest judgment should prompt funders to assess whether their in-house template litigation funding agreements purport to give the funder such a degree of control over the relevant litigation that it could be vulnerable to uncapped adverse costs orders.
Kenny Henderson, Leah Gardner and Dr. Zsolt Okányi of CMS present key trends they have identified from studying the collective proceedings filed in Europe over the past five years, noting that, among other things, class actions in the technology sector are increasing dramatically, with 15 times the number of claims filed in 2020 as in 2017 (i.e. growth of 1400%) and data protection claims grew 11 times (i.e. by 1000%) between 2016 and 2020.
Litigation funders may be spying an opportunity to cash in on the growing enforcement gap left by resource-strapped and risk-averse data protection regulators; the latest case involves New York-based IAB Tech Labs, a standards body for the digital advertising industry, being taken to court in Germany by the Irish Council for Civil Liberties in a piece of privacy litigation that’s targeted at the high-speed online ad auction process known as real-time bidding.
The British litigation funder behind a multi-million dollar, widely publicised class action launched in 2018 by New Zealand law firm Adina Thorn against Carter Holt Harvey for its Shadowclad product has unexpectedly has pulled out of the funding arrangement for unknown reasons. Carter Holt made no concessions and is set to obtain substantial security for costs paid to them following the discontinuance.

Before You Go

Never miss a thing in the litigation finance market.