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Community Spotlights

Community Spotlight: Joshua Libling, Founder & Managing Director, Arcadia Finance

By John Freund |

When not reading fantasy novels or torturing his family with off-key showtunes, Joshua Libling manages Arcadia Finance’s operations and financial analytics. For clients, his focus is on translating subjective legal merits assessments into trackable risk data that informs Arcadia’s investment decisions and portfolio construction. It’s a topic he loves to discuss, so don’t ask him what that means if you’re looking for a short conversation.

He is also responsible for modeling and operations at Arcadia. Joshua joined the litigation finance industry at the beginning of 2020, quickly gravitating to risk analysis and control. For his work, he has been recognized among Lawdragon’s “Global 100 Leaders in Legal Finance.” Before co-founding Arcadia in June of 2024 with fellow Managing Directors Ronit Cohen and David Kerstein, Joshua served as a member of the senior leadership at Validity Finance, with primary responsibility for risk analysis and pricing tools. He was previously a litigator at Boies Schiller Flexner, where he was involved in some of the country’s highest-profile and highest-stakes litigations.  

Company Name and Description: At Arcadia Finance, we go beyond traditional litigation finance to provide frictionless funding, empowering clients and partners to achieve their legal goals through customized financial solutions and unparalleled support. Our seamless collaboration, clear deal terms, and broad mandate empower clients to navigate challenges, make informed decisions, and secure capital – fast.

Led by industry veterans with over $425 million invested across 80+ deals, Arcadia Finance offers adaptable solutions for all–from litigation boutiques to AmLaw firms and corporations. Arcadia Finance’s mission is to invest in meritorious litigation, and with backing from multiple and flexible capital providers, we find new ways to help clients and law firms finance, monetize, and share risk on their legal assets. Our solutions include everything from traditional single-case funding and law firms portfolios, to purchasing companies or patent portfolios whose primary value is litigation. At every stage from pre-litigation to appeal and enforcement, Arcadia has the experience, flexibility, and capital to assist.

Company Website: arcadiafin.com

Year Founded: 2024

Headquarters: New York, New York

Area of Focus: With a focus on U.S.-based commercial and patent litigation and domestic and international arbitration, Arcadia Finance is open to the full spectrum of litigation-based assets, from mass torts to law firm lending to patent acquisition, including cross-border and offshore matters. We consider cases in all federal and state courts, as well domestic and international arbitrations.    

Member Quote: “At Arcadia Finance, we specialize in helping our partners find the path from a good legal claim to a good legal investment.”

About the author

John Freund

John Freund

Commercial

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Community Spotlights

Community Spotlight: Noah Wortman, Founder and CEO, NRW Consulting

By Harry Moran |

As Founder and CEO of NRW Consulting, Noah brings his extensive experience in assessing and analyzing corporate misconduct in the financial markets, as well as his commitment to finding global litigation and shareholder engagement solutions to investors across the world. He has extensive experience advocating for global investors, promoting corporate governance and investor stewardship, and implementing strategies to achieve collective redress.

Noah splits his time between Philadelphia and London with a global remit where he strives to provide access to justice for global institutional investors (including financial institutions, superannuation schemes, asset managers and owners, and sovereign wealth and pension funds) and others via engagement and litigation strategies including global shareholder litigation (class/group, opt-out/direct, and opt-in), antitrust/competition/cartel litigation, complex financial litigation, global privacy/data breach litigation, and global patent litigation.

Most recently, Noah was Director of Global Collective Redress at Pogust Goodhead and immediately prior was Senior Manager, Collective Redress at Omni Bridgeway where he worked with global institutional investors to implement litigation funding strategies to aid in exercising their shareholder rights in seeking legal redress from publicly listed companies where an alleged wrongdoing had occurred.

Noah is a frequent speaker around the globe on the topic of shareholder legal redress, recovery, rights and responsibilities. He has also been a member of several leading global institutional investor organizations and currently serves on the Advisory Board of Perfect Law’s Global Class Action and Mass Torts Conference. He has also served on the International Corporate Governance Network’s (ICGN) Global Stewardship Committee and its former Shareholder Responsibilities Committee, the Sovereign Wealth Fund Institute’s Event Advisory Board, and the Council of Institutional Investors’ Markets Advisory Council.

Company Name and Description:  NRW Consulting supports, recommends, and creates pathways to recovery for global investors and consumers harmed by corporate misconduct, including securities fraud, market manipulation, and violations of global regulatory requirements.  

Company Website: https://www.nrwconsultingllc.com 

Year Founded:  2018

Headquarters:  Consulting globally. Operating out of Philadelphia and London.

Area of Focus: When value erosion has been caused by corporate misconduct or fraud within an investee company, there are established and effective remedies for restitution. One of the most successful recourses is collective redress through group or class actions. Institutional investors have successfully used this option around the world to recover significant sums on behalf of beneficiaries.

With diverse global investor portfolios, institutional investors may need to consider class actions in multiple countries. Therefore, pursuing claims through class actions, direct actions, shareholder derivative actions, and/or funded group actions offers the opportunity to, on a de-risked basis: hold wrongdoers to account, influence corporate conduct and governance, or potentially institute corporate governance reform.

Noah also sits on the Advisory Board of Perfect Law. Perfect Law presents the annual Global Class Actions and Mass Torts Conference that takes place in London (https://www.perfectlaw.co.uk). The conference brings together a vertiable who’s who of the global collective redress community including judges, academics, practitioners, funders, industry providers and experts from all over the world to discuss, debate and learn from each other regarding the cases and issues of the day with the common goal of furthering access to justice.

Member Quote: "Litigation funding is a cornerstone of access to justice, allowing investors, consumers, individuals, organizations, and communities to seek legal recourse and exercise their right to pursue legitimate claims regardless of their financial circumstances. By enabling cases to proceed on their merits, it upholds fairness and accountability within the legal system, offering a powerful means to hold corporate wrongdoers to account." 

Community Spotlights

Community Spotlight: Uliana Pak, Vice President of Growth, Torticity

By John Freund |

Uliana is a seasoned professional known for bridging technology, data-driven insights, and strategic partnership development to streamline business operations and transform customer experiences. Across a dynamic career spanning institutional finance, digital advertising (IoT) and litigation technology, Uliana has consistently leveraged advanced analytics, artificial intelligence, and user-centered design approaches to elevate organizational performance that focus on driving the long-term value proposition for the firms.

Company Name and Description:  Torticity, LLC – Torticity is a comprehensive end-to-end suite of legal solutions tailored to the needs of law firms and legal industry participants. As a case workup platform, we specialize in handling large mass tort and personal injury case dockets at scale. Our unique value proposition as an outsourcing service provider is our robust suite of tech product offerings specifically designed around streamlining and expediting case processing for newly acquired cases, and evaluating progress on mid-stream case dockets.

Company Website: www.torticity.com

Year Founded:  2020

Headquarters:  Boca Raton, FL

Area of Focus:  As a VP of Growth at Torticity, she leads innovation initiatives aimed at business optimization through robust data aggregation, AI-powered analytics solutions, and enhanced client experience frameworks. Central to these efforts has been Uliana’s focus on driving transparency and standardization to the legal industry leaning on extensive assessment of case dockets to enable law firms, litigation funds and legal industry participants with better decision-making.

Case Developments Commercial

Amsterdam Court Approves Foundation in Privacy Class Action Against Google

By Harry Moran |

When looking for those jurisdiction most amenable to class actions supported by litigation funders, the Netherlands remains at the top of the list, as has been demonstrated once again today by a court’s approval of a privacy claim brought under the WAMCA regime.

An article on DutchNews covers the news that an Amsterdam court has approved the approach of a Dutch foundation to bring a claim against Google over allegations that the tech company violated the privacy of Android phone users. The court ruled that the Stichting Massaschade & Consument meets the admissibility requirements of the Act on Collective Damages in Class Actions (WAMCA). The court’s approval of the foundation’s structure and its involvement of a litigation funder means that the parties can now move forward with the class action which has reportedly registered over 100,000 consumers since 2023.

According to the foundation’s website, the class action is being financed by Eaton Hall Funding LLC, with the agreement allowing for the funder to receive 17.5% of the proceeds after costs, if the claim reaches a settlement or favourable ruling. Rubicon Impact & Litigation, an Amsterdam-based law firm, is providing legal representation for the claimants.

Frank Peters, co-founder and head of impact & litigation at Rubicon, emphasised the importance of working with a litigation funder on the case, stating that “you need very deep pockets to expose what Big Tech is trying to hide.” He explained that working with this funder, “our client was able to expose what information Google takes from Android phones, even when you are careful with your privacy settings”, and that the court’s ruling “makes clear that it is perfectly fine that  class actions come about like this.”More information about the claim can be found on the foundation’s website.