Tuesday, June 2, 2009
The NYTimes' Jonathan Glater has a great article on financial firms that invest in large-scale litigation (mostly large companies suing one another) called "Investing in Lawsuits - For a Share of the Awards. The link is here. They claim their returns are in excess of 20% per year. They avoid jury cases or cases raising new issues of law, because "juries are a coin toss." The example in the article is a contract/fraud cases. The article quotes Anthony Sebok (Cardozo) as saying “Having funding available for cases that are good cases, cases that from a God’s-eye point of view, so to speak, should’ve been brought, is a good thing."