Judge hits pause in Intel patent case, says VLSI must detail investors

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New York lawyer disbarred after admitting litigation funding scam

A New York state court has disbarred the founder of litigation finance firm Cash4Cases, who will be sentenced next month in federal court for his role in a multimillion-dollar securities fraud scheme. Manhattan prosecutors said last year that Jaeson Birnbaum “conned investors through a series of lies about Cash4Cases.” The government alleged he used the company to take cash for himself, despite telling investors he was using funds to back litigants.

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Facebook loses bid for litigation funder info in trade secrets lawsuit

A US Magistrate Judge has denied Facebook Inc’s request for litigation funding information in a trade secrets lawsuit being pursued by Neural Magic Inc, an artificial intelligence startup. According to the startup’s filing, Facebook and a former employee sought information on the litigation funder’s identity and the nature of the funding agreement. The judge found the requested information irrelevant or “not proportional to the needs of the case.”

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Ch. 7 debtor can’t block novel litigation funding deal, says appeals court

A U.S. appeals court last week shut down a Chapter 7 debtor’s challenge to a litigation funding agreement between his trustee and a creditor, finding that the agreement had no financial impact on William Berry Dean III, the debtor. The dispute stems from Dean’s 2019 Chapter 7 bankruptcy in Texas, where the trustee assigned to Dean’s estate struck a deal with one of Dean’s creditors, Reticulum Management LLC, to fund litigation aimed at collecting money that could be used to pay off Dean’s debts. Reticulum agreed to put forward $200,000 in exchange for 30% of any litigation proceeds the trustee managed to collect.

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