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Lawyers chasing personal injury firms over the deductions from former clients’ damages have been handed a huge boost after a UK costs judge rejected an application by the law firm Slater & Gordon to have claims from its former clients stayed. The cases centre around the so-called 'secret' profits received by the firm as commissions from ATE insurance premiums. There are likely to be hundreds of other similar cases pending this decision against other PI firms.
Therium is backing a potential £1 billion class action in the UK against major banks that were fined for rigging the foreign exchange market. Barclays, Citigroup, JP Morgan and RBS were fined more than €1 billion by the EU’s competition watchdog in 2019 after a five-year investigation revealed market rigging between 2007 and 2013. The banks now face a group claim brought by pension funds, asset managers, hedge funds and corporates from around the world who were affected by the forex cartels. The Competition Appeal Tribunal is deciding whether to issue a collective proceedings order, allowing the action to proceed to the next stage of litigation.

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