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Announcements Commercial

China Lending Forges Partnerships to Accelerate the Development of Its Consumer Financing Business and Expand into Litigation Guarantee Business

BEIJING, URUMQI, China and HANGZHOU, China, July 29, 2019 /PRNewswire/ — China Lending Corporation (“China Lending” or the “Company”) (NASDAQ: CLDC), a non-bank financial corporation servicing micro, small and medium sized enterprises in China, today announced that it has entered into a five-year strategic partnership with Zhong Lian Jin An Insurance Brokers Co., Ltd. (“ZLJA”), a leading insurance brokerage company in China with over 90 branches across the nation.

The partnership will enable both companies to further expand each other’s customer bases and to develop superior, customized consumer financing and insurance products by leveraging their industry expertise, service capabilities, and industry networks. China Lending will utilize its market resources to help ZLJA to effectively expand and manage its insurance customer base and sales channels. In return, ZLJA will leverage its existing customer base to identify potential sales leads for the Company’s consumer financing services.

The Company also facilitated a tripartite cooperation agreement between ZLJA, Urumqi Haoyi Yuntian Information Technology Co., Ltd. (“Haoyi Yuntian”), a business partner of China Lending, and Gongdao Network Technology Co., Ltd. (“Gongdao”) which is focused on developing online litigation solutions. Pursuant to the cooperation agreement, ZLJA will acquire customers seeking litigation guarantee insurance products from Gongdao’s online litigation portal and serve as the exclusive insurance broker for such customers in the Xinjiang Uyghur Autonomous Region, and Haoyi Yuntian will provide intellectual property support for the litigation guarantee insurance business. China Lending expects to benefit economically from the transactions by virtue of its partnerships with ZLJA and Haoyi Yuntian.

Ms. Jingping Li, co-founder and chief executive officer of China Lending, commented, “We believe that our partnerships with both ZLJA and Gongdao will facilitate our expansion into the insurance business in the Xinjiang Uyghur Autonomous Region. We expect that such expansion will enable us to expand our customer base, diversify our revenue streams, and explore additional monetization opportunities. Our partnerships with industry leaders such as ZLJA and Gongdao are representative of our ongoing efforts to expand into new business verticals while enhancing the quality of our product offerings. Going forward, we will continue to focus on cultivating synergies with our partners. We will also continue to explore new business opportunities with our partners to expand our customer bases and increase our market share while promoting the mutual development of our businesses.”

About China Lending Corporation 

Founded in 2009, China Lending is a non-bank financial corporation and provides comprehensive financial services to micro, small and medium sized enterprises, and individuals. China Lending has headquarters in Urumqi, the capital of Xinjiang Autonomous Region, and Hangzhou, the capital of Zhejiang province. For more information, please visit: www.chinalending.com.

Safe Harbor Statement 

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed partnership, and can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations of the consummation of the proposed partnership, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

IR Contact: 
At the Company:
Katrina Wu
Email: wuxiaoqing@chinalending.com 
Phone: +86-991-316-9617

Investor Relations:
Jack Wang
ICR Inc.
Email: ICR-TMT@icrinc.com 
Phone: +1 646-224-6936

SOURCE China Lending Corporation

Related Links

http://www.chinalending.com

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Announcements Case Developments Commercial

Australian Google Ad Tech Class Action Commenced on Behalf of Publishers

By Harry Moran |

A class action was filed on 16 December 2024 on behalf of QNews Pty Ltd and Sydney Times Media Pty Ltd against Google LLC, Google Pte Ltd and Google Australia Pty Ltd (Google). 

The class action has been commenced to recover compensation for Australian-domiciled website and app publishers who have suffered financial losses as a result of Google’s misuse of market power in the advertising technology sector. The alleged loss is that publishers would have had significantly higher revenues from selling advertising space, and would have kept greater profits, if not for Google’s misuse of market power. 

The class action is being prosecuted by Piper Alderman with funding from Woodsford, which means affected publishers will not pay costs to participate in this class action, nor will they have any financial risk in relation to Google’s costs. 

Anyone, or any business, who has owned a website or app and sold advertising space using Google’s ad tech tools can join the action as a group member by registering their details at www.googleadtechaction.com.au. Participation in the action as a group member will be confidential so Google will not become aware of the identity of group members. 

The class action is on behalf of all publishers who had websites or apps and sold advertising space using Google’s platforms targeted at Australian consumers, including: 

  1. Google Ad Manager (GAM);
  2. Doubleclick for Publishers (DFP);
  3. Google Ad Exchange (AdX); and
  4. Google AdSense or AdMob. 

for the period 16 December 2018 to 16 December 2024. 

Google’s conduct 

Google’s conduct in the ad tech market is under scrutiny in various jurisdictions around the world. In June 2021, the French competition authority concluded that Google had abused its dominant position in the ad tech market. Google did not contest the decision, accepted a fine of €220m and agreed to change its conduct. The UK Competition and Markets Authority, the European Commission, the US Department of Justice and the Canadian Competition Bureau have also commenced investigations into, or legal proceedings regarding, Google’s conduct in ad tech. There are also class actions being prosecuted against Google for its practices in the ad tech market in the UK, EU and Canada. 

In Australia, Google’s substantial market power and conduct has been the subject of regulatory investigation and scrutiny by the Australian Competition and Consumer Commission (ACCC) which released its report in August 2021. The ACCC found that “Google is the largest supplier of ad tech services across the entire ad tech supply chain: no other provider has the scale or reach across the ad tech supply chain that Google does.” It concluded that “Google’s vertical integration and dominance across the ad tech supply chain, and in related services, have allowed it to engage in leveraging and self-preferencing conduct, which has likely interfered with the competitive process". 

Quotes 

Greg Whyte, a partner at Piper Alderman, said: 

“This class action is of major importance to publishers, who have suffered as a result of Google’s practices in the ad tech monopoly that it has secured. As is the case in several other 2. jurisdictions around the world, Google will be required to respond to and defend its monopolistic practices which significantly affect competition in the Australian publishing market”. 

Charlie Morris, Chief Investment Officer at Woodsford said: “This class action follows numerous other class actions against Google in other jurisdictions regarding its infringement of competition laws in relation to AdTech. This action aims to hold Google to account for its misuse of market power and compensate website and app publishers for the consequences of Google’s misconduct. Working closely with economists, we have determined that Australian website and app publishers have been earning significantly less revenue and profits from advertising than they should have. We aim to right this wrong.” 

Class Action representation 

The team prosecuting the ad tech class action comprises: 

  • Law firm: Piper Alderman
  • Funder: Woodsford
  • Counsel team: Nicholas de Young KC, Simon Snow and Nicholas Walter
Announcements Consumer

Rockpoint Legal Funding Shines at Consumer Attorneys of California Annual Convention

By Harry Moran |

Rockpoint Legal Funding proudly participated in the annual conference hosted by the Consumer Attorneys of California (CAOC), showcasing its commitment to supporting legal professionals and their clients. As the only funding company endorsed by CAOC, Rockpoint Legal Funding leveraged this premier event to connect with new and prospective partners reinforcing its position as a trusted funder within California's legal community.

The CAOC is a prestigious network of attorneys dedicated to protecting the rights of California consumers. Each year, the organization hosts its annual convention, bringing together some of the brightest legal minds and innovators in the industry. For Rockpoint Legal Funding, this event was an invaluable opportunity to demonstrate its unwavering dedication to empowering attorneys and their clients through tailored legal funding solutions.

During the convention, Rockpoint operated a booth where team members engaged with attendees, offering insights into the company's services and how they benefit both legal professionals and consumers seeking justice. From new attorneys looking for funding solutions to established firms aiming to streamline their case workflows, Rockpoint provided personalized advice and showcased its comprehensive suite of legal funding options.

"Rockpoint is proud to partner with the Consumer Attorneys of California. We take a lot of pride in serving the attorneys and their clients of this prestigious organization," said Ramtin Ghaneeian, Founding Partner of Rockpoint Legal Funding. His statement highlights the company's commitment to strengthening its collaboration with CAOC and continuing to support its mission of safeguarding the rights of California consumers.

President of Rockpoint Legal Funding, Maz Ghorban, emphasized the value of building strong relationships at events like this, stating, "It's a privilege to connect with our law firm partners at the CAOC convention each year while ensuring our values align with protecting California consumers through legal recourse."

Rockpoint's presence at the CAOC annual convention underscores its dedication to fostering meaningful connections within the legal community. By being the only CAOC-endorsed funding company, Rockpoint reinforces its credibility and reliability in the legal funding landscape. This endorsement is a testament to Rockpoint's shared vision with CAOC in championing consumer rights and providing critical support to those navigating the justice system.

For attorneys and law firms, Rockpoint Legal Funding offers a variety of non-recourse funding solutions, ensuring clients have the financial support they need during ongoing litigation. This commitment aligns perfectly with CAOC's mission to advocate for justice and fairness for California consumers.

As Rockpoint continues to deepen its relationships with legal professionals, events like the CAOC annual convention remain a cornerstone of its outreach efforts. The company looks forward to future collaborations and furthering its impact within the legal community.

For more information about Rockpoint Legal Funding and its services, visit Rockpointlegalfunding.com or call (855) 582-9200.

About Rockpoint Legal Funding

Rockpoint Legal Funding is a leading provider of non-recourse legal funding solutions, serving attorneys and their clients with unparalleled expertise and care. With a mission to empower justice and support favorable case outcomes, Rockpoint is committed to providing financial assistance during critical times, ensuring no one is denied access to legal recourse due to financial constraints.

Announcements Commercial Fundraising

Nera Capital Secures Additional $25 million in New Funding Deal

By Harry Moran |

Top litigation finance firm Nera Capital is ending the year on a high with the announcement of yet another successfully closed funding deal, this time securing $25 million to bolster UK consumer protection claims.

The funding, secured through a US-based investment partner, reflects yet another significant milestone for the firm as it continues to build momentum and strengthen its foothold in the market. 

This recently closed funding deal builds on a prosperous year of growth for Nera Capital, further demonstrating its capabilities across the globe. The investment will be directed towards advancing claims that protect UK consumers, enabling greater access to justice for individuals seeking redress.

With offices in Dublin, Manchester, and Amsterdam, Nera Capital has consistently demonstrated its commitment to driving innovation and impact in litigation finance worldwide. This latest funding announcement underscores Nera Capital’s ability to forge strategic international partnerships that deliver meaningful results. 

In 2024, Nera have hit record numbers of settlements, deployment and company profitability but also grown major portfolio positions in Europe and the USA.

Aisling Byrne, Director at Nera Capital, commented on the announcement: “We are happy to have closed yet another significant funding deal, further cementing our position as a leading force in consumer protection litigation. We anticipate this initial facility figure will increase as our partnership strengthens and thrives over time.

She added: “This is not just about financial growth; it’s about expanding our ability to make a difference. With this funding, we are reinforcing our commitment to fairness and justice, empowering consumers, and holding organisations accountable.”

The announcement follows the recent launch of Nera Capital’s £250,000 Access to Justice Fund, aimed at providing legal and financial support to those who may otherwise face barriers to justice.

The firm’s efforts come at a time of heightened focus on consumer rights across the world, driven by evolving legal frameworks, increased attention to data privacy, and growing concerns about sustainability and corporate accountability.

“This funding is another step forward in a year of tremendous progress for Nera Capital,” Aisling continued.

“As we look to 2025, we remain committed to leveraging our resources and expertise to protect consumers and advocate for justice on both sides of the Atlantic.“ 

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