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News
June 4, 2014

In the News Today – June 4, 2014

The Seventh Circuit Court of Appeals has rejected, “in scathing terms,” a class-action settlement over Pella Windows, “that was engineered by a lawyer who inserted his father-in-law as a named plaintiff and negotiated a $2 million advance on his fee before his other clients even knew the case had been settled.” Seventh Circuit Judge Richard Posner wrote in the decision that, “almost every danger sign in a class action settlement that our court and other courts have warned district judges to be on the lookout for was present in this case” and also noted that, “the district court approved a class action settlement that is inequitable— even scandalous.” (Forbes.com)

In a, “litigation financing arrangement that’s structured more like a traditional loan,” Burford Capital claims it made an $11 million profit on a $15 million financing with a U.K. power company. — a 73 percent return on its investment. (Litigation Daily – subscription required)

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