Keller Lenkner expands its plaintiffs’ firm strategy into D.C.

Keller Lenkner, the US law firm founded by partner Ashley Keller, managing partner Travis Lenkner and Keller’s business partner Adam Gerchen after they sold their litigation finance fund, Gerchen Keller Capital, to Burford Capital in a $160 million deal, is expanding rapidly. It is opening an office in Washington D.C., its third city since launching in Chicago in 2018. The firm has planted its flag in mass arbitrations, using it as a strategy against companies like Amazon and Intuit which have required customers to arbitrate claims rather than file class actions. More from Reuters.

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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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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.

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