New Litigation Finance Agreement

RNS Number : 4702D

Litigation Capital Management Ltd

20 October 2022

 

20 October 2022

Litigation Capital Management Limited

("LCM" or the "Company")

New Litigation Finance Agreement

LCM to fund claim alleging that Amazon engaged in anticompetitive conduct and abused its dominant position in the UK market

Litigation Capital Management Limited (AIM:LIT), an alternative asset manager specialising in dispute financing solutions internationally, announces it has entered into a new litigation finance agreement with Julie Hunter, a consumer rights advocate and proposed class representative, in an application to commence a collective action soon to be launched in the Competition Appeal Tribunal against Amazon.

The agreement to provide a litigation finance facility is to fund a claim alleging Amazon.com Inc. and other entities in the Amazon Group engaged in anticompetitive conduct and  abused its dominant position in the market for the provision of online marketplace services in the UK, in breach of section 18 of the Competition Act 1998 and/or Article 102 of the Treaty on the Functioning of the European Union.  

LCM remains focused on sustainable long-term growth through our strategic relationships and the development of a high-quality portfolio of investments.

Further information relating to the collective action can be found at the following link: http://www.ukbuyboxclaim.com  

Patrick Moloney, CEO of LCM, commented: "We are pleased to enter into this new litigation finance agreement, which represents another important step as we grow our position as a leader in disputes funding in the UK market. 

"In line with the increasing recognition of opportunities presented by litigation funding to consumers and the communities in which we operate, w e are seeing an increasing number of competition-based claims in the UK."

Enquiries

Litigation Capital Management	c/o Alma PR
Patrick Moloney, Chief Executive Officer
Canaccord (Nomad and Joint Broker)	Tel: [phone]
Bobbie Hilliam
Investec Bank plc (Joint Broker)	Tel: [phone]
David Anderson
Alma PR	Tel: [phone]
Justine James	[e-mail]
Kieran Breheny

NOTES TO EDITORS

Litigation Capital Management (LCM) is an alternative asset manager specialising in disputes financing solutions internationally, which operates two business models. The first is direct investments made from LCM's permanent balance sheet capital and the second is third party fund management. Under those two business models, LCM currently pursues three investment strategies: Single-case funding, Portfolio funding and Acquisitions of claims. LCM generates its revenue from both its direct investments and also performance fees through asset management.

LCM has an unparalleled track record driven by disciplined project selection and robust risk management.

Currently headquartered in Sydney, with offices in London, Singapore, Brisbane and Melbourne, LCM listed on AIM in December 2018, trading under the ticker LIT.

www.lcmfinance.com

 

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