Aringa Lawsuit Reveals Details of Longford Capital’s Funding to Susman Godfrey
Due to the confidential nature of litigation finance arrangements, the wider public rarely receives insights into the specific amounts of capital provided, or the terms involved in funding agreements. However, a lawsuit between a patent monetization firm and its funder has provided a rare glimpse into the scale of funding that is driving patent infringement cases. Reporting from Bloomberg Law covers a court filing in the case of Arigna Technology Limited v. Longford Capital Fund, which has revealed details of litigation finance arrangements between Longford Capital and boutique litigation firm Susman Godfrey. The lawsuit was filed in U.S. District Court, District of Delaware by Arigna Technology, an affiliate of the patent monetization company Atlantic Technology Limited. The details of the filing shed light on the terms of the funding agreement between Longford and Susman, with Longford's capital to be used for patent enforcement cases in the US, Germany, and the International Trade Commission. The agreement shows Longford committing $23,595,500, with additional monthly fees of up to $6,915,000 for Susman to bring district court cases to a first trial. The deal also provides for monthly non-contingent fees, which ranged from $1.3 million to $3.6 million. Susman has represented Arigna across 12 separate patent cases over the last two years, bringing lawsuits against major technology corporations such as Samsung, Google and Apple. All of these cases have been brought in the Eastern and Western Districts of Texas.