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A flurry of press releases trumpeted a victory for Johnson & Johnson this week in the second bellwether trial in litigation over allegedly defective hip implants. One of the most prominent wasn't issued by J&J or by the lawyers on either side, however. Instead, it came from a company called Legal-Bay that advances cash to mass tort plaintiffs.
A briefly open window into the murky world of litigation financing is now closed. A Houston federal judge has dismissed a racketeering lawsuit filed by S&T Oil Equipment and Machinery Ltd. against finance company Juridica Investments, and moved the dispute to arbitration in Guernsey.
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