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News and analysis dedicated to the consumer legal funding sector including mass torts, regulatory issues, case developments, funding activities, and more.

Consumer

268 Articles

TRIBECA LAWSUIT LOANS NOW OFFERS LITIGATION FUNDING TO WRONGFULLY FIRED WORKERS

By John Freund |

Victims of wrongful termination often suffer a one-two punch. Explains Rory Donadio, founder of Tribeca Lawsuit Loans, “Not only do they face a confusing maze of government claim procedures and lengthy court cases, but their financial security is also compromised.” Anecdotal evidence suggests that many unlawfully fired employees fail to pursue claims because they have to invest their energy into simply providing for themselves and their families.

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Legal-Bay Lawsuit Funding Taking Applications on Astroworld and Other High Profile Personal Injury Claims

By John Freund |

Legal-Bay, the premier Pre Settlement Funding Company, announced today that over 150 lawsuits have been filed in the Astroworld tragedy that took place at Houston’s NRG Stadium last month. The event was sponsored by Live Nation and intended to be a showcase for rapper Travis Scott. Unfortunately, however, the day took a darker turn when attendees rushed the stage causing numerous injuries, and in the case of ten people, death.

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NFL Concussion Lawyer Fights Order to Repay Litigation Funder

By John Freund |

Craig Mitnick is a New Jersey lawyer who represented hundreds of current and former players in a settlement with the NFL. After taking part in a $1 billion settlement, Mitnick is now fighting an order to repay loans from a litigation funder amounting to more than $2 million. He has asked a federal judge to vacate the award to the finance company Balanced Bridge (formerly Thrivest), which also made settlement advances to former NFL players.

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What’s in the New York Consumer Litigation Funding Act?

By John Freund |

Litigation Finance has grown exponentially in recent years, with legislation trying to catch up. Opponents of the practice warn of frivolous litigation and usurious lending rates—owing to involvement from venture capitalists and other high-end investors. A recent New York Post editorial demanded increased oversight and new legislation governing the practice.

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The Impact of Small Verdicts and Settlements on the Trucking Industry

By John Freund |

After last year’s report on nuclear verdicts in trucking cases, the American Transportation Research Institute has released a new study—this time examining the impact of small verdicts and settlements on the trucking industry. In it, it’s suggested that smaller verdicts may be causing a spike in insurance prices.

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Legal Funder Under Fire for Cash Advances in NFL Concussion Case

By John Freund |

Craig Mitnick, a New Jersey lawyer who represented hundreds of NFL players in a concussion settlement, has asked a federal judge to vacate the award to a litigation funder. Balanced Bridge Funding (formerly Thrivest) provided advances to former players while they waited for settlement monies. Mitnick has been ordered by an arbitrator to repay more than $2 million in loans.

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Erika Girardi Calls Fee Agreement ‘Unenforceable’

By John Freund |

Erika Girardi’s legal troubles are far from over, it seems. A lawsuit filed by Tom Girardi’s former co-counsel alleges that she is responsible for fees that were misappropriated by her husband’s firm, Girardi Keese. The former Mrs. Girardi has called their claims unenforceable, as they are allegedly based on an “illegal and unethical” funding agreement.

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Legal Funder Accused of Misusing $10 Million

By John Freund |

Litigation lending has a reputation for unscrupulous, or even predatory behavior. One such lender, KrunchCash, was recently accused of squandering a large investment, hiding relevant information, and using threats to intentionally amplify risk to that investment.

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Former Oasis CEO Fails to Appear in Court for Oral Arguments

By John Freund |

Can a former CEO simply not show up for a court date? Not without consequences. Earlier this week, former Oasis CEO Gary Chodes was required to appear before the Seventh Circuit Court for oral arguments. These pertained to a resolved trademark dispute and the allocation of appeal costs. Judge Easterbrook presided, stating that there were valid reasons the motion to vacate could not be approved.

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Is There a Need for Tort Reform? Some Say Yes

By John Freund |

October is known by some as “Lawsuit Abuse Awareness Month,” referring to an alleged scourge of abuse of the legal system. One purported example is a recent $80 million judgement against Monsanto, a subsidy of Bayer. After a jury determined in 2018 that the pesticide Roundup caused cancer, ATRA President Tiger Joyce claimed it was based on “junk science.”

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Anonymous Aussie Solicitor Investigated Over Missing Funds

By John Freund |

Solicitor XY, so named because her mental health could be damaged if her name is revealed, has been charged with doctoring invoices to steal funds. Her client, Hanadi Rafraf, sustained injuries in a car accident and was later awarded more than $450,000. Yet her lawyer gave her documents signed by a claims assessor explaining that she would receive $132,000 less than her stated award.

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USClaims Completes Its Seventh Securitization and Continues U.S Growth

By John Freund |

USClaims (USClaims.com), the longest continuously operating pre-settlement funding firm in the U.S., today announced its $77.5MM 144A litigation finance securitization. This marks the company’s seventh securitization transaction involving this asset class.  It primes USClaims to continue its run of impressive growth across the United States.

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Litigation Funder Arrested in Slip-and-Fall Fraud Scheme

By John Freund |

A fifth member of a slip-and-fall fraud ring was arrested and charged in a Manhattan Federal Court. The scheme, which amounts to more than $30 million, appears to have begun in 2013. Adrian Alexander, age 75, has been charged with mail fraud, wire fraud, and conspiracy to commit mail and wire fraud for his alleged attempts to gain fraudulent insurance reimbursements. The case will be heard by US District Judge Sidney H Stein.

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Did Girardi Keese’s Creditors Know About the Fraud?

By John Freund |

Legal troubles for Tom Girardi and his wife, reality star Erika Jayne of The Real Housewives of Beverly Hills, are still mounting. Now there’s word that a bankruptcy trustee will be hiring a firm to investigate an allegation that attorney Tom Girardi’s lenders were aware of fraudulent cash transfers in the millions.

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Pre-Settlement Funding Conditions

By John Freund |

It’s not unusual for plaintiffs to need extra money before their case is adjudicated. An accident victim, for example, can’t wait years to pay medical bills or replace their car. Pre-settlement funding can help those who find themselves needing an influx of cash as they await the outcome of their lawsuit.

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Cash4Cases Founder Pleads Guilty in Securities Fraud Case

By John Freund |

Jaeson Birnbaum has pled guilty to securities fraud related to activities surrounding the Litigation Finance firm he founded: Cash4Cases. According to Audrey Strauss, US District Attorney for the Southern District of New York, Birnbaum affirmed the assertions that he used investor funds for personal expenses.

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