Vannin Capital

All articles about Vannin Capital.

Vannin Capital is backing two new class actions commenced in the Federal Court of Australia against Apple and Google. The claims, filed by Phi Finney McDonald on behalf of the lead applicants, allege that the tech giants engaged in anti-competitive conduct in relation to the operation of their app stores. By routinely charging a 30% commission to app developers and limiting their ability to distribute apps outside of the app stores, it is alleged that Apple and Google limited competition in the market which resulted in higher prices for consumers.
Two major representative actions over alleged data breaches have been discontinued in the wake of last year’s Supreme Court ruling in Lloyd v Google. The YouTube data breach claim that sought damages of up to £2.5bn, was one of the cases discontinued, and was advised by Hausfeld and backed by funder Vannin Capital. The other case discontinued was one brought by Mishcon de Reya on behalf of approximately 1.6 million people whose confidential medical records were obtained by Google and DeepMind Technologies in breach of data protection laws.
Omni Bridgeway, Litigation Lending, ICP, CASL, Balance Legal Capital and Vannin Capital are all funders who have come together to launch Save Class Actions, a new campaign in Australia working against government intervention into people's right to fund a class action. New laws proposed by the Morrison Government would have people's legal funding in a class action capped at 30% of their final compensation.
Technology giant Apple has lost a bid to reveal a proposed representative claimant’s after-the-event insurance premiums, with the Competition Appeal Tribunal ruling that disclosure would provide an ‘unfair tactical advantage’ by revealing the insurers’ assessment of risk. The class action is seeking estimated damages of up to £1.5 billion. A hearing to decide whether to grant a CPO in the proposed claim brought by Dr Rachael Kent – who is represented by international disputes firm Hausfeld and backed by litigation funder Vannin Capital – is due to take place in May.
Paul Martenstyn is to leave barristers’ chambers 36 Stone following the completion of a project with his legal management consultancy Prosperant. The project saw Paul Martenstyn engaged as Director of Clerking to 36 Stone in a management consultancy programme which was revolutionary for the bar. Martenstyn had worked as a managing director of litigation funder Vannin Capital for two years before joining 36 Stone.
Fortress Investment Group LLC (“Fortress”) has announced that the operations of Vannin Capital, which it acquired in 2019, will be restructured into its Fortress Legal Assets business, effective immediately. As part of the restructuring, a number of Vannin Capital employees will transfer to Fortress. The change will have no impact on Vannin Capital’s existing investments, and Vannin Capital will remain the counterparty to its various litigation funding agreements. 
Vannin Capital is backing a class action filed by Phi Finney McDonald against Australian pharmaceutical company Mayne Pharma Group. The proceeding was filed on behalf of current and former shareholders and alleges that Mayne breached its continuous disclosure obligations by, among other things, failing to inform investors about an alleged price-fixing and market-share arrangement in the US. Vannin will take, subject to court approval, a 25% funding commission from a successful outcome.
Vannin Capital is backing a claim filed by Hausfeld in the Competition Appeal Tribunal against Google on behalf of an estimated 19.5 million eligible UK users of smartphones and tablets running on Google’s Android operating system. The claim alleges that Google unfairly restricts consumers from accessing potential competition from other app distributors, by requiring smartphone manufacturers to pre-install a bundle of Google’s proprietary apps and services including the Google Play Store as well as imposing other contractual and technical restrictions. Estimated damages run up to £920 million.
Vannin Capital is backing a representative opt-out collective action filed in the Competition Appeal Tribunal in London against Apple for allegedly overcharging millions of UK users for apps and other purchases made on its market-leading App Store. The class action is seeking estimated damages of up to £1.5 billion. Hausfeld is leading the litigation, along with Brick Court Chambers and Monckton Chambers.

Before You Go

Never miss a thing in the litigation finance market.