From yesterday’s Times, a Deal Book article about, well, let me quote one sentence:
Yes, folks, it seems that there are now investment firms specializing in lawsuits. Talk about
Once considered taboo in the legal profession, the practice of litigation finance is enticing more corporate lawyers to become investors, bankrolling lawsuits in exchange for a piece of the potential winnings.
Gee whiz. Apparently a lawsuit which will evidently win a lot of money for one side is a good investment.
Why does this sound to me like three discreditable practices? First, murky securities packaged and re-packaged and re-re-packaged into glumps, an enticing investment; second, companies that advance money to plaintiffs before the lawsuit ends, providing that the plaintiff hands over an obscene percentage of any final settlement; and third, those dreadful companies advertising “It’s your money,” and why shouldn’t you use it? Meaning, the company will break a beneficial annuity you might choose to put your settlement monies into, take a clump and give you the rest — “rest” being a lot less than you’d get if you kept your money in that annuity to begin with.
However, just in the interests of research, I invite any company that wants a piece of my two lawsuits, both of which I will win, to give me a call.
I think this is such a ditzy idea, take a look at the whole article and why not call some of the companies named in the article? Ask them if they’d invest in your lawsuit. And do let me know what happens.