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Validity Finance Launches New Summer Fellowship for Law Students of Diverse Backgrounds

May 15, 2019

Validity Finance Launches New Summer Fellowship for Law Students of Diverse Backgrounds

NEW YORK, May 14, 2019 /PRNewswire/ — Leading litigation funder Validity Finance has launched a new Equal Access Fellowship, providing a paid summer fellowship to first-year law students of diverse backgrounds. For 2019, the company has selected two distinguished first-year students to spend the summer in Validity’s New York office, with an option to split their time working for a pro bono organization of their choice. The two inaugural Equal Access Fellows are New York University School of Law JD candidate Amanda Gonzalez Burtonand Georgetown University Law Center JD candidate Jarrett Lewis. “We created the Equal Access Fellowship to help law students from underrepresented backgrounds obtain meaningful experience early in their careers, and begin building the professional networks that will promote their growth,” said Validity founder and CEO Ralph Sutton. While at Validity, fellows will learn about the burgeoning litigation finance sector and its increasing role in leveling the playing field in commercial disputes. Fellows will interact with perhaps dozens of law firms and help review an equal number of prospective cases seeking funding, performing legal research, participating in client meetings, and drafting articles for publication in the process. After an initial five weeks, each fellow will have the option of either staying with Validity or spending the balance of the summer with a public service organization of his or her choice. In either case, Validity Finance will pay the fellows’ salaries for the entire 10-week program. While both Ms. Burton and Mr. Lewis will be based in New York, future fellows will serve in Validity’s offices in Chicagoand Houston as the program expands in size and scope. Validity expects to maintain an ongoing mentoring relationship with the fellows as they advance through law school and enter the legal profession.  Validity hopes participants will emerge from the fellowship with an excellent grounding in the economics of law firms and litigation risk. The 2019 fellows were chosen through a selective process that included interviews and a review of academic performance.  Candidates were also required to submit essays addressing factors that influenced their decision to train as lawyers. “We want to help lead the litigation funding sector in giving back to the legal community,” said Julia Gewolb, Validity’s Head of Underwriting. “Our new Equal Access Fellowship is an opportunity to invest in the development of our profession by helping promote promising, diverse young lawyers.  Fellows will gain not just a solid introduction to the business of law, but an opportunity to meet with dozens of commercial litigation practitioners, helping these young law students build a key professional network early in their legal careers.” “We are delighted to welcome Amanda Burton and Jarrett Lewis as our inaugural Equal Access Fellows to New York,” Mr. Sutton said. “We look forward to working with these talented law students and are pleased to be offering them an introduction to the world of litigation finance, where stellar lawyers are seeing enormous career opportunities.” About the Fellows Validity’s inaugural Equal Access Fellows are: Amanda Gonzalez Burton is a 1L at New York University School of Law, where she is a recipient of the Norma Z. Paige Scholarship and is a Dean’s Scholar and Birnbaum Women’s Leadership Fellow. She is a board member of the Latinx Law Students Association. She previously worked for Teach for America and as a Sponsor for Educational Opportunity Law Fellows at Clifford Chance. Ms. Burton obtained an MBA from Rutgers Business School in 2014 and a B.A. in Interdisciplinary Social Sciences from Florida State University in 2009, graduating magna cum laude and Phi Beta Kappa. Jarrett Lewis, a 1L student at Georgetown Law School, is a member of the Black Law Students Association and the Rise Fellows Program, a pre-orientation program for students from historically underrepresented backgrounds in the legal profession. He previously interned with Foy & Seplowitz LLC and The Legal Aid Society, and attended the Shook Scholars Institute at Shook Hardy Bacon. He obtained a Bachelor of Science in criminology from Pennsylvania State University in 2018. About Validity Validity is a commercial litigation finance company that provides businesses, law firms and individuals with non-recourse financing for a wide variety of commercial disputes. Founded in 2018 with $250 million in financing, Validity believes that capital and legal expertise combine to help solve legal problems on behalf of clients. Validity’s’ mission is to make a meaningful difference for clients by focusing on fairness, ethics, innovation, and clarity. Validity is committed to developing a diverse and inclusive work force in its own offices and within the legal profession as a whole. Validity embraces a broad definition of diversity, encompassing race, gender, ethnicity, disability, and LGBTQ background, as well as individuals from underrepresented social, economic, religious, and geographic backgrounds. Equal access to justice; equal access to opportunity— this is what Validity believes is fair and right. CONTACT: Allan Ripp, 212-262-7477, aripp@rippmedia.com SOURCE Validity Finance

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Pravati Capital Establishes Coalition to Advance Responsible Litigation Funding Regulation Across U.S. Following Arizona Law’s Passage

By John Freund |

Arizona’s Senate Bill 1215 (SB1215) will become law on Jan. 1, 2026, marking a significant milestone in the state’s role as a national leader in advancing access to justice through litigation funding, positioning Arizona as a model for other states considering similar measures. Arizona’s legislation reflects a broader movement in states such as California and Georgia, where lawmakers are weighing the benefits of litigation finance as a way to level the playing field for plaintiffs facing deep-pocketed adversaries.

To help advance these efforts, Scottsdale, Ariz.-based Pravati Capital, one of the oldest litigation finance firms in the U.S. and supporter of the bill alongside the Arizona Chamber of Commerce and Industry and the broader legal community, has formed a coalition of litigation funders, attorneys and policy advocates committed to ensuring that states pass responsible regulation that protects plaintiffs. 

The bill’s final passage underscores a consensus reached after months of negotiations and reflects bipartisan compromise, according to Alexander Chucri, founder and CEO of Pravati Capital. SB1215 ensures funding remains a viable option for plaintiffs seeking to stand on equal footing with well-capitalized corporate opponents; it requires greater transparency of legal proceedings and prohibits funding and influence by foreign countries or entities of concern as defined in the legislation. 

“Arizona’s leadership in the area of litigation funding sends a powerful signal nationally,” said Senate Majority Whip Frank Carroll, a key supporter of the legislation. “This legislation is the product of constructive negotiation that demonstrates what’s possible when all sides work toward the shared goal of preserving access to justice.”

“It closes the door on bad actors while ensuring responsible litigation finance firms can continue to help plaintiffs pursue meritorious claims,” said Chucri. “At Pravati, we welcome this as part of an ongoing dialogue.”

SB1215 took effect on September 26, 90 days after the close of the legislative session, and, with a delayed effective date, will become law on January 1. Among key provisions, SB1215:

·       Protects the integrity of cases by restricting involvement by foreign countries or entities of concern as defined in the legislation, ensuring litigation funding remains aligned with U.S. legal and ethical standards.

·       Preserves innovation in legal services, reaffirming Arizona’s pioneering role in allowing alternative business structures (ABS), law firms that permit non-lawyers decision-making authority, to expand access to legal services by partnering with litigation funding firms.   

·       Balances regulation, affirming safeguards such as prohibitions on funders controlling litigation, while maintaining transparency. 

Chucri added, “Pravati has always believed our mission — ‘to befriend, help and protect’ — is best achieved through cooperation and a willingness to educate stakeholders. We will continue to engage constructively in conversations to advance fair, responsible access to justice.” 

About Pravati Capital

Established in 2013, Pravati Capital, LLC is among the oldest litigation finance firms in the U.S., delivering a proven track record as an equalizing force in court and a unique and uncorrelated asset class to investors. Founded by Alexander Chucri, a visionary in developing the industry's first pioneering model of litigation finance in 2003, Pravati Capital brings together a seasoned team with deep experience across law, finance and successful entrepreneurial ventures. The Scottsdale, Ariz.-based firm delivers strategic capital solutions for attorneys and law firms, helps plaintiffs gain access to justice through financial support, and offers accredited investors an attractive asset class designed to perform independently of traditional markets. Pravati’s mission is its namesake: to befriend, help and protect. For more information, visit PravatiCapital.com. 

Announcements Commercial

Burford Issues YPF Litigation Update Ahead of Pivotal Appeal Hearing

By John Freund |

Burford Capital has released a detailed investor update ahead of a key appellate hearing in its high-profile litigation against Argentina over the renationalization of YPF.

According to Burford’s press release, oral arguments in the consolidated appeal—referred to as the “Main Appeal”—are scheduled for October 29, 2025, before the US Court of Appeals for the Second Circuit. The hearing will address Argentina’s challenge to a $16 billion judgment issued in 2023, as well as cross-appeals concerning the dismissal of YPF as a defendant. The release outlines the appellate process and timelines in granular detail, noting that a ruling could come months—or even a year—after the hearing, with additional delays possible if rehearing or Supreme Court review is pursued.

Burford also clarified the distinction between the Main Appeal and a separate appeal involving a turnover order directing Argentina to deliver YPF shares to satisfy the judgment. That order has been stayed pending resolution, with briefing set to conclude by December 12, 2025. Meanwhile, discovery enforcement is proceeding in the District Court, where Argentina has been ordered to produce documents—including internal and “off-channel” communications—amid accusations of delay tactics.

International enforcement efforts continue in at least eight jurisdictions, including the UK, France, and Brazil, where Argentina is contesting recognition of the US judgment.

The update serves both as a procedural roadmap and a cautionary note: Burford stresses the unpredictable nature of sovereign litigation and acknowledges the possibility of substantial delays, setbacks, or settlements at reduced values.

Announcements Consumer

The Alliance for Responsible Consumer Legal Funding Applauds Governor Newsom for Signing AB 931

By John Freund |

The Alliance for Responsible Consumer Legal Funding Applauds Governor Newsom for Signing AB 931, the California Consumer Legal Funding Act

The Alliance for Responsible Consumer Legal Funding (ARC) expressed its deep appreciation to Governor Gavin Newsom for signing Assembly Bill 931 -- The California Consumer Legal Funding Act -- into law. Authored by Assemblymember Ash Kalra (D–San Jose, 25th District), this landmark legislation establishes thoughtful and comprehensive regulation of Consumer Legal Funding in California—ensuring consumer protection, transparency, and access to financial stability while legal claims move through the judicial process.

The law, which takes effect January 1, 2026, provides consumers with much-needed financial support during the often lengthy resolution of their legal claims, helping them cover essential living expenses such as rent, mortgage payments, and utilities.

“This legislation represents a major step forward for California consumers,” said Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding. “AB 931 strikes the right balance between protecting consumers and preserving access to a financial product that helps individuals stay afloat while they await justice. Consumer Legal Funding truly is about funding lives, not litigation.”
Key Consumer Protections Under AB 931

The California Consumer Legal Funding Act includes robust safeguards that prohibit funding companies from engaging in improper practices and mandate full transparency for consumers.

The Act Prohibits Consumer Legal Funding Companies from:

• Offering or colluding to provide funding as an inducement for a consumer to terminate their attorney and hire another.
• Colluding with or assisting an attorney in bringing fabricated or bad-faith claims.
• Paying or offering referral fees, commissions, or other forms of compensation to attorneys or law firms for consumer referrals.
• Accepting referral fees or other compensation from attorneys or law firms.
• Exercising any control or influence over the conduct or resolution of a legal claim.
• Referring consumers to specific attorneys or law firms (except via a bar association referral service).

The Act Requires Consumer Legal Funding Companies to:

• Provide clear, written contracts stating:
• The amount of funds provided to the consumer.
• A full itemization of any one-time charges.
• The maximum total amount remaining, including all fees and charges.
• A clear explanation of how and when charges accrue.
• A payment schedule showing all amounts due every 180 days, ensuring consumers understand their maximum financial obligation from the outset.
• Offer consumers a five-business-day right to cancel without penalty.
• Maintain no role in deciding whether, when, or for how much a legal claim is settled.

With AB 931, California joins a growing list of states that have enacted clear and fair regulation recognizing Consumer Legal Funding as a non-recourse, consumer-centered financial service—distinct from litigation financing and designed to help individuals meet their household needs while pursuing justice.

“We commend Assemblymember Kalra for his leadership and Governor Newsom for signing this important legislation,” said Schuller. “This act ensures that Californians who need temporary financial relief during their legal journey can do so safely, transparently, and responsibly.”

About the Alliance for Responsible Consumer Legal Funding (ARC)

The Alliance for Responsible Consumer Legal Funding (ARC) is a national association representing companies that provide Consumer Legal Funding, non-recourse financial assistance that helps consumers meet essential expenses while awaiting the resolution of a legal claim. ARC advocates for fair regulation, transparency, and consumer choice across the United States.