Innsworth Capital

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Innsworth is backing a new £2.3 billion case in the UK against Meta Platforms Inc., the parent company of Facebook. The case is being brought as an opt-out collective action in the UK’s Competition Appeal Tribunal on behalf of more than 40 million consumers. It is alleged that Meta abused its market dominance to impose unfair terms and conditions on ordinary Britons giving it the power to exploit their personal data. Quinn Emanuel is the law firm acting for the class representative. 
The UK's Competition Appeal Tribunal last week certified the highly anticipated Merricks v. Mastercard lawsuit, which represents the first time an opt-out class action has been certified since the new regime was introduced in 2015. Innsworth Capital is providing funding of up £45.1 million for the case, which could see Mastercard liable for around £14 billion of damages for infringing EU law by charging 'interchange' fees on the use of debit and credit cards between 1992 and 2008. In granting the order, the Tribunal looked closely at the litigation funding agreement and determined that it was suitable, subject to Innsworth providing an undertaking as to liability for costs.

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