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Litigation financing - funding the lawsuit in exchange for a percentage of recovery - is not limited to class actions. I knew someone that was in a firm that d
by Kon-Peki 5y ago
Litigation financing - funding the lawsuit in exchange for a percentage of recovery - is not limited to class actions. I knew someone that was in a firm that did this. Everything I ever heard about it from him made it sound like it was run in a very similar manner to venture capital firms. I never once heard the word "loan" or any indication that the risk of losing every penny invested on a specific lawsuit was anything other than "high".
Now, these firms aren't very likely to even take a meeting from the type of law firm that advertises on billboards or TV.
- t3rabytes 5y agoFirms that handle lemon law cases in my state operate this way, too -- no fee for the client assuming the case is actually worth a damn because the law includes a provision that the automaker pays the legal fees if they win a buyback/replacement/remedy.