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UK Facebook Users Could Benefit from £2.1 Billion Class Action as Case Proceeds to Trial

By Harry Moran |

UK Facebook Users Could Benefit from £2.1 Billion Class Action as Case Proceeds to Trial

Competition law expert Dr Liza Lovdahl Gormsen’s multi-billion pound case against Meta has been certified by the Competition Appeal Tribunal in London. Meta failed to prevent the case from proceeding as neither the Competition Appeal Tribunal nor the Court of Appeal granted Meta leave to appeal.

The case is now proceeding to trial, opening up the prospect of compensation for 46 million UK Facebook users.

Every Facebook user who were domiciled in the UK on 15 February 2024 and accessed Facebook at least once in the period between 14 February 2016 and 6 October 2023 will be automatically included in the case unless they opt out by 5 March 2025.

Dr Lovdahl Gormsen says: “We welcome the opportunity to hold Meta to account for abusing its dominant position by exploiting 46 million UK users’ data. Meta abused its market dominance by imposing unfair terms and conditions on UK users and imposing an unlawful price. We are very pleased that the Tribunal has approved me to go ahead and represent the class in our pursuit of redress for each individual affected”

The Tribunal ruled Meta’s attempts to challenge Dr. Lovdahl Gormsen’s claims were “insufficient” after expert testimony from leading economist Fiona Scott Morton, a former Deputy Assistant Attorney General for Economics at the U.S. Department of Justice’s Antitrust Division. Whilst Meta attempted to appeal this decision, the Court of Appeal in October refused permission for them to do so.

Class action claims have risen in the UK in the past three years but do not always receive a Collective Proceedings Order. As of November 2024, only a third of all cases have reached this stage, underscoring the importance of this decision.

Dr Lovdahl Gormsen’s case argues that Meta set an ‘unfair price’ for UK Facebook users. The “price” set for granting access to the social network was the surrender of UK users’ highly valuable personal data on a take-it-or-leave-it basis for access to the network. In return, users only received “free” access to Facebook’s social network, and zero monetary recompense whilst Facebook generated billions in revenues from its users’ data. This unfair deal was only possible due to Meta’s market dominance, meaning users had no other social network they could use to get the same service.

The claim seeks damages of at least £2.1 billion, plus interest, on aggregate for all UK consumers affected.

Kate Vernon, partner and Head of Competition Litigation Practice at law firm Quinn Emanuel, representing Dr Lovdahl Gormsen said: “This groundbreaking case promises to redefine the application of competition law in the context of data exploitation. It sets a legal framework for approaching this pivotal matter and represents a significant shift in how we address the associated critical issues.”

Dr Lovdahl Gormsen’s legal action is an opt-out class action brought under the Competition Act 1998 and the first to protect individuals’ data rights against Meta under competition law in England and Wales. The case is backed by some of Britain’s most prominent lawyers and economists, such as the Rt. Honourable Lord Neuberger, former President of the Supreme Court, Professor Richard Whish, Honorary Kings Counsel, economist Chris Pike, and Peter Vicary-Smith, former CEO of Which?.

A notice of the collective proceedings order, which sets out how users may opt out of the claim, can be found here.

About Dr Liza Lovdahl Gormsen

The case is being led on behalf of the class by Dr Liza Lovdahl Gormsen, Senior Research Fellow at the British Institute of International and Comparative Law (BIICL) and the director of the Competition Law Forum.The Competition Law Forum is a noted centre of excellence for European competition and antitrust policy and law.

In addition, Dr Lovdahl Gormsen is a Board Member of the Open Markets Institute and sits on the advisory board of the Journal of Antitrust Enforcement (OUP).

As an international expert in the field, Dr Lovdahl Gormsen co-authored the paper “Facebook’s Anticompetitive Lean in Strategies” (2019) and “Facebook’s Exploitative and Exclusionary Abuses in the Two-Sided Market for Social Networks and Display Advertising” (2021). The latter argues that antitrust enforcement is required to prevent the company from reinforcing its data-driven abuse of market power.

Dr Lovdahl Gormsen is represented by Quinn Emanuel Urquhart & Sullivan UK LLP, one of the UK’s leading competition law specialists. The case is spearheaded by Quinn Emanuel partner Kate Vernon, a highly respected competition law specialist, and assisted by partner Leo Kitchen, and associates Megan Hiluta, Aadil Master and Alexander Groes. Also advising Dr Lovdahl Gormsen are counsel Robert O’Donoghue KC of Brick Court Chambers, Tom Coates of Blackstone Chambers, Greg Adey of One Essex Court and Ian Simester of Fountain Court Chambers.

The case is being funded by Innsworth, one of the world’s largest civil litigation funders.

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The Alliance for Responsible Consumer Legal Funding Applauds Governor Newsom for Signing AB 931

By John Freund |

The Alliance for Responsible Consumer Legal Funding Applauds Governor Newsom for Signing AB 931, the California Consumer Legal Funding Act

The Alliance for Responsible Consumer Legal Funding (ARC) expressed its deep appreciation to Governor Gavin Newsom for signing Assembly Bill 931 -- The California Consumer Legal Funding Act -- into law. Authored by Assemblymember Ash Kalra (D–San Jose, 25th District), this landmark legislation establishes thoughtful and comprehensive regulation of Consumer Legal Funding in California—ensuring consumer protection, transparency, and access to financial stability while legal claims move through the judicial process.

The law, which takes effect January 1, 2026, provides consumers with much-needed financial support during the often lengthy resolution of their legal claims, helping them cover essential living expenses such as rent, mortgage payments, and utilities.

“This legislation represents a major step forward for California consumers,” said Eric Schuller, President of the Alliance for Responsible Consumer Legal Funding. “AB 931 strikes the right balance between protecting consumers and preserving access to a financial product that helps individuals stay afloat while they await justice. Consumer Legal Funding truly is about funding lives, not litigation.”
Key Consumer Protections Under AB 931

The California Consumer Legal Funding Act includes robust safeguards that prohibit funding companies from engaging in improper practices and mandate full transparency for consumers.

The Act Prohibits Consumer Legal Funding Companies from:

• Offering or colluding to provide funding as an inducement for a consumer to terminate their attorney and hire another.
• Colluding with or assisting an attorney in bringing fabricated or bad-faith claims.
• Paying or offering referral fees, commissions, or other forms of compensation to attorneys or law firms for consumer referrals.
• Accepting referral fees or other compensation from attorneys or law firms.
• Exercising any control or influence over the conduct or resolution of a legal claim.
• Referring consumers to specific attorneys or law firms (except via a bar association referral service).

The Act Requires Consumer Legal Funding Companies to:

• Provide clear, written contracts stating:
• The amount of funds provided to the consumer.
• A full itemization of any one-time charges.
• The maximum total amount remaining, including all fees and charges.
• A clear explanation of how and when charges accrue.
• A payment schedule showing all amounts due every 180 days, ensuring consumers understand their maximum financial obligation from the outset.
• Offer consumers a five-business-day right to cancel without penalty.
• Maintain no role in deciding whether, when, or for how much a legal claim is settled.

With AB 931, California joins a growing list of states that have enacted clear and fair regulation recognizing Consumer Legal Funding as a non-recourse, consumer-centered financial service—distinct from litigation financing and designed to help individuals meet their household needs while pursuing justice.

“We commend Assemblymember Kalra for his leadership and Governor Newsom for signing this important legislation,” said Schuller. “This act ensures that Californians who need temporary financial relief during their legal journey can do so safely, transparently, and responsibly.”

About the Alliance for Responsible Consumer Legal Funding (ARC)

The Alliance for Responsible Consumer Legal Funding (ARC) is a national association representing companies that provide Consumer Legal Funding, non-recourse financial assistance that helps consumers meet essential expenses while awaiting the resolution of a legal claim. ARC advocates for fair regulation, transparency, and consumer choice across the United States.

Harris Pogust Joins Bryant Park Capital as Senior Advisor

By John Freund |

Bryant Park Capital (“BPC”) a leading middle market investment bank and market leader in the litigation finance sector, is pleased to announce that Harris Pogust has joined the firm as a Senior Advisor.  Harris (Mr. Pogust) is one of the best known and prominent attorneys in the mass tort and class action fields, he was the founding partner and Chairman of Pogust Goodhead worldwide until early 2024 and is currently working with Trial Lawyers for a Better Tomorrow, a charity Harris founded, to help children reach their educational potential all over the world.  Harris’ life work has been to deliver justice for those who have been damaged or injured through the negligence or bad faith of others.

“We are thrilled to have Harris as part of our team.  His knowledge, experience and relationships in the litigation finance sector are of great value to Bryant Park and our clients.  As the litigation finance world becomes more competitive, complex and challenging, having an expert like Harris on our team is invaluable,” said Joel Magerman, Managing Partner of Bryant Park.

Harris’ efforts, in conjunction with Bryant Park will focus on assisting law firms and funders in developing strategies to more efficiently fund their operations and cases and assist them in establishing the right relationships for future growth.  Harris commented, “I have been fortunate to have been a practicing attorney and partner in law firms for over 35 years focused on building and growing a worldwide book of business in the class action/mass tort field.  That required significant capital and throughout my career I have raised over $1 billion for my firms.  I have learned what works and what doesn’t.  I have seen both the risks and rewards in this industry.  I look forward to being able to work with law firms and funders to assist them in putting the right strategies in place with Bryant Park and bringing capital and liquidity to help them grow and flourish.”

About Bryant Park Capital

Bryant Park Capital is an investment bank providing capital raising, M&A and corporate finance advisory services to emerging growth and middle market public and private companies. BPC has deep expertise and a diversified, well-founded breadth of experience in a number of sectors, including specialty finance & financial services. BPC has raised various forms of credit, growth equity, and assisted in mergers and acquisitions for its clients. Our professionals have completed more than 400 assignments representing an aggregate transaction value of over $30 billion.

For more information about Bryant Park Capital, please visit www.bryantparkcapital.com.

Therium Capital Advisors Launched to Provide Litigation Finance Advisory Services

By John Freund |

Therium Capital Advisors (TCA) announced today the launch of its independent advisory services business dedicated to helping claimants, law firms and corporates to source, structure and secure litigation finance. TCA offers end-to-end support including funding strategy, investor engagement, financial modelling, deal structuring, ongoing case management and secondary market advisory. Based in London, the firm is advising on deals in the UK, continental Europe and Australia.

Therium Capital Advisors is led by litigation funding pioneer Neil Purslow and co-founded by investment banker Harry Stockdale. Neil has over 16 years of experience in litigation finance, raising capital and investing worldwide across all forms of litigation finance from single cases funding through to portfolio, corporate and law firm funding arrangements. Harry was previously head of UK M&A at investment bank Haitong with twenty years of experience in investment banking, advising law firms and litigation funders on complex financial transactions.  

TCA is the first advisory firm to provide clients with advisory services that are backed by a deep understanding of litigation finance investing coupled with the financial and transactional expertise of investment banking. Therium Capital Advisors bridges the gap between claimants, law firms and corporates on the one side and existing and new sources of institutional capital on the other.  Through the combined expertise of its founders, TCA opens up the investor universe that is available to clients and drives quality in the investment propositions, efficiency in the funding process and competition in the funding market.

TCA exclusively advises claimants, law firms and corporates, ensuring that it remains conflict-free.  The firm advises across the full range of legal assets including single case and portfolio funding, law firm financing, financing options for corporates and existing portfolios of legal assets.   

Neil Purslow, co-founder and Managing Partner of Therium Capital Advisors said: “We are at a pivotal moment in the development of the legal finance industry, given the relative paucity of traditional funding capital available.  However, we are seeing a shift towards new categories of investors in legal assets who want exposure to this uncorrelated asset class. By leveraging our unrivalled experience across both litigation funding and investment banking, we are assisting our clients to navigate this landscape with confidence, speed and understanding, and we provide them with access to a broader set of funding options and to meet their funding needs efficiently and cost effectively.”

Harry Stockdale, co-founder and Partner of Therium Capital Advisors said: “We are bringing an investment banking mind set to the litigation funding world which has developed largely without the benefit of specialist advisors. This professionalisation of the funding process will make the sector more efficient and accessible to a wider audience of investors in addition to the traditional litigation funders. We are already seeing the benefit of this, for both clients and investors alike, and is part of the maturing of litigation finance as an asset class.”

Therium Capital Advisors provides the following services to claimants, law firms and corporates:

  • Deal Preparation: Preparing funding propositions to be investment-ready.
  • Capital Sourcing: Identifying and engaging with suitable funders and capital providers from across the spectrum of legal assets investors.
  • Financial Modelling and Analysis: Providing robust financial modelling and scenario analysis to evaluate deal structures and model returns.
  • Investor Materials and Outreach: Advising on the preparation of investor-facing materials and documentation, inserting rigour and discipline to ensure efficiency in the funding process.
  • Co-Funding: Advising on the identification and engagement of potential co-investors to optimise risk-sharing and capital raising.
  • Negotiating Funding Terms: Leading negotiations with investors to secure terms which balance commercial viability with the interests of the funded party.
  • Deal Structuring and Documentation: Advising on deal structures and overseeing the drafting and execution of all relevant documentation.
  • Post-Funding Case Management: Providing ongoing monitoring, reporting, and servicing support post-funding on behalf of the claimant, to manage risks and support positive case outcomes.
  • Secondary Market Advisory: Advising on secondary transactions of existing legal assets including sub-funding arrangements and exits.

More information can be found at: www.therium.com/theriumcapitaladvisors