In focus: Class action lawsuits go mainstream

Class actions lawsuits are going mainstream, aided by litigation funding that has shrugged off its champertous past and is flying the flag for social justice. As more mega-claims hit London courts, however, the practicalities of how group litigation is managed and paid for needs to keep up with changing attitudes – or risk undermining the model’s new-found reputation. More from the Law Gazette.

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Funder News

SPS Capital acquired by Vinci Partners

SPS Capital, a prominent Brazilian special situations fund with R$2.0 billion (USD $380 million) in assets under management, has been acquired by Vinci Partners, another leading alternative investment platform in Brazil. SPS Capital, together with PGMBM, is funding the high-profile claim against mining giant BHP in relation to the Fundão dam collapse.

New Fundings

PGMBM launches guitar price fixing claim

PGMBM has launched an opt-out group claim in the UK against famed guitar maker Fender for alleged price fixing. From 2013 to 2018, Fender required its guitars to be sold at or above a minimum price and was fined £4.5 million by the Competition and Markets Authority for breaching UK and European competition law.  PGMBM will be entering into a a funding agreement to cover the costs of the proceedings, and the proposed class representative also plans to acquire after-the-event (ATE) insurance to cover any of Fender’s costs in the event that this claim is unsuccessful.

In the News

BHP loses appeal to multibillion lawsuit over Samarco disaster

BHP, the world’s largest miner by market value, has lost an appeal in a London court seeking to block an over £5 billion lawsuit by 200,000 Brazilians over a deadly dam failure in Brazil seven years ago. The group claim is one of the largest in British legal history. PGMBM and SPS Capital are funding the claim.

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