UK class-action lawsuits against Google, Apple and Sony see value of competition claims surge to £26bn January 9, 2023 The value of UK competition class-actions surged last year, according to new data published today, following the filing of a series of multi-billion-pound claims against some of the world’s biggest tech companies, including Apple, Google and Sony. The value of class-action lawsuits filed in the UK over claims around anti-competitive behaviour surged six-fold over the [...]
Boom in law firm partner hires set to subside in 2023 as recession hits January 5, 2023 The boom in law firm partner hires seen over the previous year is set to subside in 2023 as the UK economy slides into recession, according to a new report. The global economic downturn is set to hit law firm’s revenues, in a shift that is in turn set to cool the partner hiring market, [...]
SEC charges Sam Bankman-Fried with fraud December 13, 2022 The SEC has charged Samuel Bankman-Fried with orchestrating a scheme to defraud equity investors in FTX Trading Ltd (FTX).
‘Profiteering’ Home REIT to be sued over misleading investor information December 7, 2022 Beleaguered property investor Home REIT has been hit by a lawsuit from investors today amid claims it is “profiteering from the housing crisis” and used misleading information to raise cash. The social housing-focused firm has been hammered by a slew of claims from short sellers in the past two weeks over the quality of charity [...]
Shares in RBG plummet following trading update December 6, 2022 Shares in RBG Holdings recovered slightly today after plummeting on Monday following news it has taken a £4m hit to its balance sheet. In a trading update, the London listed professional services firm told investors it’s litigation funding subsidiary LionFish has lost two legal cases over the previous year RBG said LionFish will take a [...]
City Moves: Who’s switching jobs in the Square Mile this week? December 2, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Heathrow Express Heathrow Express has appointed a new director and business lead, who rejoins after a three-year hiatus. Daniel Edwards previously led the Heathrow VIP commercial team before becoming head of retail categories. Edwards, who launched its [...]
Arctic miner GreenX to pocket £740m in damages from Polish government November 29, 2022 Arctic miner GreenX Metals is set to pocket £737m in damages from the Polish government, following a hearing in London over the past two weeks. The London-listed company, which mines for metals critical for the green transition, had sued Poland for profits lost in relation to two projects, Jan Karski and Debiensko, based in the [...]
City Moves: Who’s switching jobs in the Square Mile? November 10, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. AVI Global Trust British investment firm AVI Global Trust has bolstered its board with a new chairman to succeed Susan Noble, who is set to retire. Graham Kitchen, who has been a non-executive director since January 2019, [...]
Litigation funders warn EU regulation could hinder class-action lawsuits October 6, 2022 UK litigation funders have hit out at EU plans to regulate the sector in arguing the bloc’s proposals to cap fees could prevent class action lawsuits going forwards. The EU’s proposal is clear the litigation funding sector has the potential to support access to justice and help ensure public cases are brought to court, [...]
Legal sector hits back at EU calls for regulation of third-party litigation funders September 14, 2022 Lawyers and litigation funders have hit back at EU plans to regulate the third-party litigation financing industry in claiming new rules could limit access to justice. The clashes come after the EU parliament on Tuesday voted overwhelmingly in favour of adopting a report by German MEP Axel Voss calling for new regulation of Europe’s [...]