Catalysing class actions using litigation funding
In a recently published article on Legal Futures website, Noor Kadhim explains that rapid expansion of litigation funding has made class actions more feasible. The financial loss suffered by a single claimant is too small to make individual claims economically viable as average consumer funding requirements do not go above £5,000. However, pursuing claims on a collective basis results in economies of scale. Specifically, litigation funding platforms such as AxiaFunder that rely on crowdfunding model to source capital for claims are well placed to help catalyse meritorious class actions and ensure they are run effectively.
AxiaFunder can provide three types of assistance for such claims: providing seed funding to assess the merits of a class claim, funding the marketing expenses associated with acquiring the claim, and pre-action funding to prepare the claim for the larger funding to trial to be put in place.
To read the full article, visit https://www.legalfutures.co.uk/blog/catalysing-class-actions-using-litigation-funding.
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