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Plaintiffs’ Lawyers, Litigation Funders Swoop In On VW Settlement

Plaintiffs’ lawyers and litigation funders, are working to convince class members in Germany to opt out of a settlement with Volkswagen and file their own claims individually, according to the Financial Times.

A group of American and British lawyers, along with their own litigation funder, are trying to convince members of the original class against Volkswagen to opt-out of the recent settlement and pursue their own claims. This group offers potential clients upfront cash for opting out of the settlement and pursuing claims with them, along with promises of bigger awards.

However, VZBV, the consumer organisation that brought the original claim and secured a €830 million settlement, is warning against opting out. They caution claimants “not to blindly trust the advertising promises of litigation financiers”. The group says these firms often take large commissions and their success is tied to a case in May.

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German Bar Association Supports Stronger EU Regulation of TPLF

he German Bar Association (BRAK) is weighing-in on the European Parliament’s draft report on responsible private funding of litigation.  The Parliament’s report, authored by German MEP Axel Voss, recommends an EU directive to sensibly regulate third party litigation funding (TPLF)

Third Party Litigation Funding “from Taboo to Transparency”

A recent article by Yves Faguy in the Canadian Bar Association’s magazine highlights the need for transparency in the litigation funding industry. The article shows the growth of the industry and the increasing prominence of litigation funding on a global stage citing the use of funding in major cases in the UK, Germany, and US.

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