Nakiki SE announces that it is investigating a capital market claim of up to EUR 400,000 against a company listed on the Open Market of the Düsseldorf Stock Exchange. Nakiki is thus opening up a new area of business: the financing of securities law claims.

With this step, Nakiki SE expands its expertise in the area of litigation financing and continues its growth strategy. The financing of securities litigation enables investors and shareholders to pursue potential claims against listed companies without financial risk. Nakiki SE assumes the full cost of the litigation and receives a share of the proceeds in the event of a successful outcome.

This new business area responds to the growing demand for specialised financing models for legal claims in the capital market. Nakiki SE is supported by an experienced team of lawyers and financial experts to ensure that cases are thoroughly investigated and the plaintiffs’ chances of success are maximised.

With the establishment of securities litigation financing, Nakiki SE is positioning itself as a leading player in a dynamically growing market. We see considerable potential here to facilitate investors’ access to capital market legal protection and at the same time to diversify our portfolio,” says Andreas Wegerich, CEO of Nakiki SE.

Today a leading competition law expert, Professor Barry Rodger, has filed a legal claim worth up to £1.04 billion against Google before the UK Competition Appeal Tribunal (“CAT”). Google is accused of abusing its dominant position to the detriment of a large class of thousands of UK app developers who need to use its app marketplace, ‘Play Store’ or ‘Google Play’, to access their customers. The class action lawsuit seeks compensation for the losses in revenues suffered by those individuals and businesses, many of whom are SMEs, from August 2018 onwards. 

Professor Rodger alleges that Google has used a variety of technical and contractual restrictions to ensure that Google’s Play Store is the only place where UK app developers can market or sell apps designed for Android devices. The result is that UK app developers have little choice other than to use the Google Play Store if they want to reach a wide audience. Google has then used its dominant position in app distribution to require developers to pay excessive and unfair commissions (of up to 30%) on all their sales of digital content to customers. Professor Rodger claims that absent the combination of exclusionary and exploitative conduct, app developers would have paid less to distribute their apps and sell their digital content. 

Professor Rodger’s action follows significant litigation and regulatory scrutiny of Google’s Play Store conduct around the world, including by the European Commission, the UK’s Competition and Markets Authority and the US Congress. 

A class action is needed in the present case because UK app developers would not individually have the means to each bring claims against Google. The UK’s opt-out class action regime in the CAT provides a mechanism by which these app developers can legitimately seek damages for the harm they have suffered as a result of Google’s conduct. 

Professor Rodger’s claim is backed by a legal team composed of competition litigation and digital markets specialists, Geradin Partners and a counsel team of Robert O'Donoghue (Brick Court Chambers), Daniel Carall-Green (Fountain Court Chambers) and Sarah O’Keeffe (Brick Court Chambers). The claim also relies on the expertise of Professor Amelia Fletcher CBE, Professor of Competition Policy at the University of East Anglia, who has been assisted in preparing her economic report by a team of economists at Fideres. The claim is funded by Bench Walk Advisors, a leading litigation funder with a team of multi awardwinning finance professionals and litigators. 

Professor Rodger said: “It is extremely important that the principles of fairness and equality of opportunity underlie our rapidly expanding digital economy by ensuring effective redress for those harmed by any abusive anti-competitive behaviour in the marketplace. I am bringing this claim because I believe that Big Tech businesses like Google should not be allowed to run roughshod over small businesses. I teach my students every day about the importance of enforcement of competition law and I am now ‘practising what I preach’ by seeking redress in the form of compensation for significant business damage suffered by this class of Android app developers.” 

Founding Partner of Geradin Partners, Damien Geradin, said: “Google is one of the most powerful companies in the world. Regulators around the globe have scrutinised its Play Store conduct and consider it harmful. Yet Google continues to use its monopoly position to force out competition and to exploit app developers. It is imperative therefore that developers in the UK also have the opportunity to seek redress for Google’s wrongful conduct.” 

More information on the claim and regular updates for the proposed class can be found at: www.googleplaystoredeveloperclaim.com.  

McDonald Hopkins is proud to welcome John J. Hanley as a Member in the Business Department and the Litigation Finance Practice Group. John brings with him years of experience, a proven track record of success and an innovative spirit that will play a pivotal role at the firm.

“McDonald Hopkins is a great brand in the litigation finance space.” said John. “The goal here is to capture market share. We will continue to be among the best and most active in the litigation finance space, and I’m excited to contribute to it.”

John specializes in litigation finance and complex financial transactions. He has over two decades of extensive experience from highly esteemed East Coast law firms in first and second lien financings, private debt and equity placements, acquisition and sale of loans, securities, trade claims, and other illiquid assets. His clientele includes a diverse array of financial entities, such as litigation funders, business development companies, specialty lenders, investment banks, hedge funds and others. He attributes his success in the field to his client-focus and the way he approaches complex matters.

“I identify as a part of the client’s team. I use terminology like ‘our position,’ ‘our claims,’ ‘our proceeds,’ and I mean it. It may seem small, but I think it strikes a chord and makes a difference,” John noted.

John’s arrival is a strategic step in building upon the success and influence the Litigation Practice Group has achieved. His addition bolsters a powerhouse team of attorneys, including Marc Carmel and Edward Reilly, who have deep experience in this field. This addition aligns with the group’s recent Chambers ranking, which recognized it as one of five firms ranked in the 2024 Chambers Litigation Support Guide for Litigation Support Deal Counsel (USA-Nationwide) and Marc Carmel as one of eight attorneys ranked individually.

“With John, we truly are positioned to offer unparalleled expertise and service in the litigation finance realm. This not only affirms our leadership in the field but also demonstrates our ongoing dedication to expanding and enhancing the support we provide to our clients. We believe no other middle-market practice matches the scope of our engagements, and John’s arrival shows that the best in the business want to be here. We are thrilled to have him on the team,” said Marc Carmel, Chair of the Litigation Finance Practice and Managing Member of McDonald Hopkins’ Chicago office.

David Gunning, the Chair of McDonald Hopkins’ Business Department echoed Carmel’s sentiment.

"John is an invaluable addition to our Business Department,” said David Gunning, the Chair of McDonald Hopkins Business Department. “His experience will not only strengthen our Litigation Finance Group but will also enhance our broader finance capabilities. We’re excited to have John on board as we continue to grow our department and provide exceptional service to our clients across all areas of finance.”

John will be mostly remote from his home in New Jersey, but will be working closely with McDonald Hopkins’ Chicago office.

Unlike commercial patent owners, universities are not unitary organizations with a hierarchically-defined command and control structure. Universities can comprise several constituencies and legal entities, not all of whom have completely aligned intellectual property interests. Successfully representing a university requires being actively aware of each facet of its make-up and serving as a facilitator between them. For example, a university’s president may not view patent litigation positively, whereas its research sponsor considers patent enforcement to be an essential right that must be exercised under its exclusive license. Successful counsel and funders of university patent owners patiently seek out all interested parties within the university umbrella to ensure a litigation strategy and funding arrangement satisfies as many interests as practicable.

How do you address the potential conflicts of interest that might arise when public institutions enter into litigation funding agreements? Are concerns here legitimate, or are they overblown?

Politics may require consideration when public universities are involved. For example, is approval from the state attorney general required? Can the litigation funder represent that no foreign investors are involved? Should the university be a party to a litigation funding agreement? If so, which part of the university should engage with a litigation funder? If not, how can the university’s public interests be protected in a law firm-facing litigation funding arrangement? These considerations are extraordinarily important and cannot be glossed over.

Protecting institutional reputation is always the primary concern. A university may have spent decades or even centuries building its academic reputation. But reputations are fragile. A university will not risk ruining its reputation by its trial lawyer’s misconduct or funder’s lack of transparency. Everyone working with a university, including its counsel and funders, are de facto arms of the university and must be willing to uphold its high standards of ethics.

I predict that more funders will become interested in acquiring university-originated patents rather than just funding litigation. This affords a university much-needed up-front monetization while simultaneously providing the funder more control over strategic decision-making. I also predict that a commercially-run version of the University Technology Licensing Program (UTLP) could be very successful in the funded patent litigation marketplace.

Thomson Reuters (TSX/NYSE: TRI), a global content and technology company, today announced it has acquired Safe Sign Technologies, a UK-based startup that is developing legal-specific large language models (LLMs).

“This acquisition marks another milestone on our journey to combine our trusted content and world-class domain experts with our cutting-edge technology. Based on our internal assessment, we believe Safe Sign’s models have demonstrated industry-leading performance across a number of domain-specific evaluations. We believe that coupling them with our industry-leading content and expertise will help us deliver greater quality and performance from our AI solutions,” said Joel Hron, Chief Technology Officer, Thomson Reuters. “We expect this acquisition to help accelerate our ability to provide our customers with a professional grade AI experience through the CoCounsel AI Assistant – the company's genAI assistant – that enables professionals across industries to accelerate and streamline their workflows.”

“We believe Safe Sign Technologies has been at the cutting edge of legal AI research since 2022, achieving significant progress in its goal to create the world’s best proprietary legal LLM. Safe Sign’s world-leading team—drawn from Cambridge, DeepMind, Harvard and MIT—is pleased to join with Thomson Reuters to become a major scientific and industrial disrupter in legal AI,” stated the Safe Sign Technologies leadership team, Alexander Kardos-Nyheim and Dr. Jonathan Schwarz.

Alexander Kardos-Nyheim, founder and CEO, founded Safe Sign Technologies in February 2022. He was joined by leading Cambridge Law and AI professors and researchers. Kardos-Nyheim’s team expanded, most notably with the arrival in late 2023 of Dr. Jonathan R. Schwarz, who became the company’s co-founder and chief scientist. Schwarz brought with him world-leading AI expertise, drove the company’s LLM strategy and enabled the company to achieve world-class legal LLM performance. The Safe Sign Technologies team will report directly to Hron and will be working closely with the Thomson Reuters Labs team. To learn more about Safe Sign Technologies and its team, visit the Safe Sign Technologies website.

Thomson ReutersThomson Reuters (TSX/NYSE: TRI) (“TR”) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is a world-leading provider of trusted journalism and news. For more information, visit tr.com.

A specialist Litigation Funder which has offices in Manchester, Dublin and The Netherlands, has appointed an internationally renowned finance executive as its new Chief Financial Officer (CFO).

Finance veteran, Robin Grant, has joined Nera Capital bringing over 25 years’ experience in dealing with various asset classes and investment strategies. 

As a long-standing chartered accountant, Mr Grant explained that he has gained extensive UK and international experience with large firms through to start-ups and is now delighted to join the team at Nera Capital.

“The company has always been successful, and at the moment it is on a steep growth curve which makes Nera Capital increasingly attractive to additional institutional investors,” he said. 

“The firm has an exceptional business model where pursuit of justice for the benefit of claimants is at the heart of everything it does while also generating superior risk adjusted returns for our investors. It’s a win-win for everyone except the corporate wrongdoers.

“I’m very pleased to be at Nera and aim to make a positive contribution as part of the management team.”

Mr Grant added that Nera Capital's success is due to the team working quickly to undertake due diligence, understand the return proposition and do the work needed to get claim strategies into an investable position.

“Once we get there, we move very quickly to deploy funds and aggressively manage the litigation process to get the claims in a position where we can start settling them,” he added.

“The professionalism of the team is unrivalled; this is a team with a strong proven track record.

“They’ve done it for years, they’re all from high-quality institutional, backgrounds and they’re all really passionate about what they do, it’s a very exciting time for the team.”

Reflecting on his own career, Robin explained: “My journey after I left university began with three hard years training to be a chartered accountant with BDO in London.

“It’s an exciting sector to be involved in with lots of challenges and its these that make it enjoyable.” With a craving to earn international finance experience after his qualification in London, Mr Grant boarded a plane to Bermuda and spent the next five years gaining exposure to banking, captive insurance and hedge fund sectors, having stints with PwC and Lombard Odier.   

Looking back on his time, he explained: “I ended up living in Bermuda for five years and the Cayman Islands for two years before returning to London.

“Once back in the UK I gained further experience with large institutions, I was CFO of GLG Partners’ Fund of Funds division (now part of Man Group PLC) and boutique firms, such as Tabula Investment Management Ltd (now part of Janus Henderson), RS Platou Asset Management (now part of Clarksons PLC) and Quantmetrics Capital.

“These experiences are the grounding for everything I have done since then, and I’ve enjoyed taking that skillset and applying it to my role with Nera Capital.”

Speaking about Mr Grant’s appointment, Director of Nera Capital, Aisling Byrne, said the team were delighted to welcome him aboard and look forward to growing the firm together. 

She said: “This year Nera Capital has been able to expand substantially, while achieving significant milestones with multiple investments around the world and large settlements being also achieved “ 

“We are confident that Mr Grant will be able to guide our team through further growth, while we focus on investment returns and justice in the legal system.” 

About Nera Capital 

·       Established in 2011, Nera Capital is a specialist funding provider to law firms.  

·       Provides Law Firm Lend funding across diverse claim portfolios in both the Consumer and Commercial sector. 

·       Headquartered in Dublin, the firm also has offices in Manchester and Holland. 

·       Member of European Litigation Funders Association

.       www.neracapital.com