Litigation Cap. Mgmt - New Litigation Finance Agreement

Litigation Capital Management

20/10/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221020:nRST4702Da&default-theme=true

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 (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, we
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: 020 7523 8000
 Bobbie Hilliam

 Investec Bank plc (Joint Broker)          Tel: 020 7597 5970
 David Anderson

 Alma PR                                   Tel: 020 3405 0205
 Justine James                             LCM@almapr.co.uk
 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 (http://www.lcmfinance.com/)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGRFFUFMUEESEDS