reuters.com

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Litigation funder RD Legal Funding, which was accused of charging 9/11 first responders 250% interest on loans, settled a predatory lending lawsuit brought by state and federal authorities for just $1, and agreed not to collect the $600,000 that customers still owe under its contracts as part of its settlement with the U.S. Consumer Financial Protection Bureau and the New York Attorney General's Office.
CNN is seeking to compel American lawyer and former law professor Alan Dershowitz to disclose the funders backing his defamation claim against the network, arguing that the funders may have their own motives for backing the case (for example, a competitor or an interested party seeking to silence the news network), casting doubt on the notion that Dershowitz brought the case in order to remedy an actual personal harm.
Claims management firm RGL has filed a multi-million pound lawsuit against Hargreaves Lansdowne, a top British investment platform, in London's High Court on behalf of an initial 3,200 investors in connection with the firm's promotion of the former flagship LF Woodford Equity Income Fund. RGL has secured ATE insurance for this phase of the litigation, and has indicated that it intends to add external litigation funding.
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.
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."
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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