What a litigation finance company's NYSE debut means for the legal industry - Business Insider

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How a litigation finance company's NYSE listing is making funding lawsuits mainstream — and signals a major change in the role in-house legal departments play in corporations

"We do feel very optimistic about the market," said Perla. The survey additionally found that over half of respondents said their company has abandoned meritorious claims due to cost, and 70% said they have claims worth at least $20 million for which they could potentially use finance.

"Now that one of the world's largest funders is publicly listed in the US, we expect a significant increase in awareness of the space, along with even greater transparency for investors and funding recipients," said Jay Greenberg, CEO and cofounder of litigation funder, LexShares. Corporations' in-house legal departments can become revenue generators rather than cost centers through third-party funding

"A legal department can actually generate revenue for the business, which is a complete 180, because it traditionally has just been a cost center," Goyle explained. "The notion that the legal department can actually go out and be a revenue generator is quite innovative. I do think there's an increasing appetite from corporates for funding."

 

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