Could group action claims explode in post-coronavirus crisis litigation boom? May 7, 2020 Lawyers and litigation funders are increasingly looking at group action lawsuits in England and Wales as a way of holding major companies to account. After the last financial crisis litigation spiked as contractual counterparties fell out and consumers and shareholders pursued banks for wrongdoing. The litigation landscape in the English legal system has changed over [...]
Burford Capital shares jump as it predicts coronavirus litigation boom April 28, 2020 Shares in Burford Capital rose 20 per cent today as it predicted a spike in litigation in the aftermath of the coronavirus pandemic. In its annual report, Burford said: “Economic downturns produce litigation claims… [Burford] expects to see significant amounts of litigation, and meaningful demands for capital, over the next several years.” Burford also said [...]
Exclusive: Lawyers who took on Lloyds and Tesco launch new funder-backed firm April 29, 2019 A group of lawyers who are taking on Lloyds Banking Group and Tesco in multi-million pound group actions have launched a new firm backed by a heavyweight litigation funder. The new firm – Harcus Parker – is a breakaway from London firm Harcus Sinclair led by its head of litigation Damon Parker. The firm has [...]
Bitcoin whales keep accumulating as ECB president calls for global regulations January 18, 2021 CryptoCompare data shows the price of Bitcoin (BTC) moved from around $35,500 at the start of the week to a high close to the $40,000 as BTC was seemingly trying to move back to its all-time high. Bitcoin’s price advance was rejected, and the cryptocurrency is now trading above $36,000. Ether (ETH), the second-largest cryptocurrency [...]
The City View podcast, from City A.M., with Martin Gilbert April 28, 2020 In this episode Christian talks to City veteran Martin Gilbert on the eve of his departure from Standard Life Aberdeen, the £550bn investment management giant. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Martin founded Aberdeen Asset Management in 1983 and became co-CEO of SLA after a 2017 merger with Standard [...]
Burford Capital issues warning on 2019 profit February 3, 2020 Burford Capital, the litigation funder locked in a stand-off with short-seller Muddy Waters, has warned 2019 profit will fall lower partly due to a fall in potential earnings from certain investments. The AIM-listed company said it finished the first half of its financial year with an “unusually high” amount of settlement, $173m, thanks to investment [...]
Burford Capital shares rise after US lawsuit against it is dropped January 7, 2020 Litigation funder Burford Capital’s share rose this morning after it said a US lawsuit against it had been dropped. Burford’s shares plunged over the summer after it was targeted by shortseller Muddy Waters which questioned its governance and accounting standards. Today, Burford said a securities lawsuit filed in August following its share price drop had [...]
How systemic risk is shaking the market’s foundations July 8, 2020 Adversity, like necessity, is the mother of invention. Firms are seeking novel ways to adapt to the challenges of Covid-19 and the likely increase of remote working even after the pandemic subsides. Some problems are easier to solve than others. In the easier category, new solutions are needed to replicate the spontaneous interactions that arise [...]
Revolving door spins at London litigation funder Augusta Ventures October 27, 2019 Litigation funder Augusta Ventures has launched a new team to back consumer class actions, but has also shed more than 10 per cent of its London workforce in a recent round of cuts. The funder said that despite cutting eight staff in London, it has grown overall, adding 11 new employees in recent months. Its [...]
NMC Health hires former FBI director to probe short attack allegations January 17, 2020 NMC Health has appointed former FBI director Louis Freeh to look into allegations of financial wrongdoing by the company made by US short-seller Muddy Waters. The hospital operator’s shares have plummeted 44 per cent since Muddy Waters published a report raising “serious doubts” about the company’s finances and asset valuations on 17 December. NMC Health [...]