Funder-backed collective claim launched in Italy

Bench Walk Advisors is backing a new collective claim in Italy that is based on a 2019 Italian Competition Authority (AGCM) decision.

On 17 July 2019, the Italian Competition Authority (AGCM – Autorità Garante della Concorrenza e del Mercato) concluded a complex investigation, resulting in the ascertainment of two cartel agreements, set up to distort normal competition in the markets for corrugated cardboard and corrugated cardboard packaging.

The cartels involve the most important manufacturers of corrugated cardboard sheets and packaging, as well as the Italian group of corrugated cardboard manufacturers (GIFCO). In consideration of the seriousness and duration of the conduct, the Authority imposed fines of over € 287 million, paving the way for actions claiming compensation for damage suffered by direct and indirect purchasers of the cartelists.

The bookbuilding and damage assessments for the case are being delivered by Libra.

The legal and litigation services are being delivered by Delex.

Read more.

Keep Reading

In the News

Match Group to pay Tinder founders $441 mln to settle lawsuit

Match Group has announced that it will pay Tinder’s co-founders and original team $441 million to settle a years-long lawsuit over allegations that Match Group purposely undervalued the startup in an effort to avoid paying out billions of dollars in equity. Bench Walk Advisors backed the plaintiffs in the claim.

In the News

Barry Diller denies his company cheated Tinder founders out of $2 billion

Billionaire Barry Diller took the stand last week to defend his media empire from a lawsuit claiming that it cheated the founders of Tinder out of $2 billion. His attorneys have used millions of dollars in litigation funding payments to key witnesses to cast doubt on former CEO Sean Rad’s case. Rad’s camp has argued that the payments are irrelevant to the suit, and the judge presiding over the trial found that the payments were not illegal, saying that it ”approaches the line between legitimate litigation funding and illegitimate payment of witnesses, [but] it does not cross it.” Bench Walk Advisors is the funder backing Rad in the Tinder case.

Funder News

Bench Walk adds VP in New York

Nick Sage has joined Bench Walk Advisors as Vice President in the funder’s New York office. Nick previously served as a senior litigation associate with Davis Polk & Wardwell LLP, where he gained significant experience across a wide range of litigations and arbitrations and represented a variety of financial institutions, media companies, technology companies, utility companies, and law firms in high-stakes disputes.

Before You Go

Never miss a thing in the litigation finance market.