Vannin backing claim against Australian pharmaceutical company

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. Read more.

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In the News

Apple’s bid to reveal ATE premiums refused by tribunal

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.

Funder News

Martenstyn to Step Down as Director of Clerking at 36 Stone

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.

New Fundings

Omni Bridgeway backs new Australian class action

Omni Bridgeway has agreed to fund a class action against Mesoblast Limited (ASX:MSB) on behalf of shareholders for losses arising out of Mesoblast’s alleged breaches of its continuous disclosure obligations and/or by Mesoblast engaging in misleading and deceptive conduct. The class action will be run by law firm Phi Finney McDonald.

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