REG - Litigation Cap. Mgmt - Judgment Delivered in Class Action Investment

Litigation Capital ManagementAnnouncement

04/12/2024 07:00

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RNS Number : 7067O  Litigation Capital Management Ltd  04 December 2024

4 December 2024

Litigation Capital Management Limited

("LCM" or the "Company")

Judgment Delivered in Class Action Investment

 

Litigation Capital Management Limited (AIM:LIT), an alternative asset manager
specialising in dispute financing solutions internationally, announces that
the Federal Court of Australia has delivered a judgment in the class action
funded by LCM on behalf of the Queensland users of electricity against
Stanwell Corporation Ltd and CS Energy Ltd (the "Judgment").

The Judgment found against LCM's funded party, the Queensland users of
electricity. LCM has invested A$25m of its own balance sheet capital into this
case to date.

There is a right of appeal from the Judgment which must be filed within 28
days. LCM is considering the Judgment with the legal team and any appeal will
be filed in due course.

Patrick Moloney, CEO of LCM commented: "We will carefully review the Federal
Court's decision and, with the legal team, will assess the prospects of a
successful appeal from the judgment. Our expectation has always been that an
appeal in this case was likely, regardless of the initial outcome. We remain
confident in the strength of the underlying claim."

Enquiries

 Litigation Capital Management                           c/o Tavistock PR
 Patrick Moloney, Chief Executive Officer

 David Collins, Chief Financial Officer

 Cavendish (Nomad and Joint Broker)                      Tel: 020 7220 0500
 Jonny Franklin-Adams and Rory Sale (Corporate Finance)

 Tim Redfern and Jamie Anderson (Corporate Broking)
 Canaccord Genuity (Joint Broker)                        Tel: 020 7523 8000
 Bobbie Hilliam

 Tavistock PR                                            Tel: 020 7920 3150
 Katie Hopkins                                           lcm@tavistock.co.uk (mailto:lcm@tavistock.co.uk)

 Simon Hudson

 

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)

 

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