In the latest sign that commercial litigation finance is shaping global litigation, Quinn Emanuel Urquhart & Sullivan said Wednesday that it is readying a novel $25 billion U.K. claim against MasterCard Inc. on behalf of British debit and credit card holders.
The action, which Quinn Emanuel said it expects to file in a specialized competition tribunal in late July or August, will be the largest case by far under a year-old U.K. law that expands the ability of private parties to seek collective redress for violations of U.K. competition law. It also marks the largest investment in a non-U.S. litigation by Gerchen Keller Capital LLC, a Chicago-based commercial litigation financier that has vaulted into the top ranks of third-party funders in size since its founding in 2013. Gerchen Keller has committed up to $55 million to the case.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]