Affirmative Litigation As a Growth Strategy: Are You In or Out?
The decision will shape firms' relationships with litigation funders
March 26, 2021 at 10:06 AM
6 minute read
Litigation financer Burford is doing more business than ever directly with corporations. But that doesn't mean firms looking to represent more plaintiffs have scaled back their relationship with funders. Have an opinion? Email me here. Want this dispatch in your inbox every Thursday? Sign up here.
Affirmative Litigation as a Growth Strategy: Are You In or Out?
I've frequently used this space to talk about where affirmative litigation sits in a given law firm's mix. Kirkland & Ellis's announcement in summer 2019 that they would be stepping up their contingency practice is one example—when the highest grossing firm in the world speaks, others listen.
But now, it seems that most firms are either in, or out. And that's guiding how they're interacting with litigation finance providers.
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Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
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