Entrance to the Supreme Court of the United Kingdom. Credit: lazyllama/Adobe Stock UK Justice Secretary Vows Legislation to Protect Litigation Funding
The proposed legislation could bypass a 2023 Supreme Court ruling that litigation funding agreements were unenforceable in competition cases.
January 16, 2024 at 06:27 AM
3 minute read
The U.K. Justice Secretary has said he plans to use legislation to counteract last year's Supreme Court ruling against litigation funding agreements.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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