The Wall Street Journal Reported today that Hudge Fund Elliott Management has entered the legal funding business by financing a patent infringement case for interactive-video company, Eko, against Quibi. Elliot has agreed to fund Eko’s suit against Jeffery Katzenburg’s new start-up, Quibi, that allows streaming on iPhones for people on the go. The allegation is that Quibi has infringed the patented technology owned by Eko.
Billionair investor, Paul Singer, has funded activist lawsuits in the past, but this case represents is different from his other lawsuit fundings.
In litigation financing, a third-party funder, agrees to invest money to fund a lawsuit in exchange for share of the settlement or verdict. The money is not a loan, but an investment into the client’s case. Therefore, if there is no settlement or sucessful verdict, the money is not repaid. The idea behind legal funding is that it allows smaller companies to litigate against larger, less financed companies.
LANCE EQUALS THE PLAYING FIELD
Lance Lawsuit Funding is a primary funder of personal injury and partnership litigation. We have funded partnership “buyout” lawsuits. Ususally in out partnership “Buyout” litigation, a retiring partner has to arbitrate with the partnership to determine the value of his/her partnership value. Our fundings have allowed ex-partners to arbitrate for the fair value of their interests.
Lance Lawsuit Funding also provides substantial funding to product liability cases, premises liability liability and medical malpractice lawsuits.
Examples of recent legal fundings that Lance Lawsuit Funding have done include a six-figure investment into a premises liability case wherein a defective electrical breaker, manufactured in China, malfunctioned and cause an apartment fire in Texas. We provided funding to the family so that they could persue a premise liablity case against the owner of the premises and a product liablity case against the Chineese manufacture.
In a recent medical malpractice case, we funded a single mom who’s physician loss his license for performing unnecessary surgeries, in which she was injured. Our funding helped her to hang on longer while her lawyer got her a better settlement.
Read more about whether legal funding is right for you and choosing the right fit in our recent blog, “How To Choose The Right Lawsuit Funding Company for You.” here.
If you or your business thinks legal funding is right for you then contact us at, www. Lancelawsuitfunding.com and tell us about your case.