Shareholders’ actions

Several very large institutions required help eliminating the high costs of this £400m+ UK class action, which led to a positive outcome.

Background

The institutions had purchased shares in the defendant firm at a price they claimed was artificially inflated by the defendant’s misrepresentations.

Harbour’s funding

Harbour put together a funding package that allowed the claimants to complete the initial investigation and due diligence; appoint a first-rate legal team and obtain detailed analysis from leading counsel and experts, supporting the merits of the claim; draft contracts, including terms of reference for the group to ensure they could make key decision swiftly and efficiently; manage the defendant’s disclosure of more than 1 million documents and take out adverse costs cover, using our A-rated ATE insurance facility.

Outcome

Litigation funding can offer benefits to even well-capitalised claimants. Our funding allowed the institutions to remove the costs of a UK class action from their balance sheets. They had access to our expertise in dealing with class actions, leading to a successful outcome. Shortly before trial, and after several settlement discussions including a 2-day mediation, the action concluded with a favourable settlement. The claimants received 72% of the settlement sum.

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