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.
Victoria Shannon Sahani of Arizona State University, Sandra Day O’Connor College of Law and Maya Steinitz of the University of Iowa College of Law predict that the trend toward spinning off international arbitration practices in large firms into independent boutiques will likely accelerate as the investment proposition becomes ‘invest in a law firm’ rather than ‘invest in a lawsuit,’ and outline the increased conflicts and ethical challenges that will arise and need to be dealt with in the new landscape.
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.