REG - Litigation Cap. Mgmt - Litigation Finance Agreement

Litigation Capital ManagementAnnouncement

16/05/2022 07:00

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RNS Number : 5288L  Litigation Capital Management Ltd  16 May 2022

16 May 2022

 

Litigation Capital Management Limited

("LCM" or the "Company")

 

Litigation Finance Agreement for new representative claim against Google and
DeepMind Technologies

 

Litigation Capital Management Limited (AIM:LIT), an alternative asset manager
specialising in dispute financing solutions internationally, announces that it
has entered into a litigation finance agreement for a new representative
claim.

The finance agreement is to fund a new representative action in the High Court
of Justice of England & Wales brought on behalf of up to 1.6 million
individuals against Google and DeepMind Technologies for the unlawful use of
patients' confidential medical records.

The claim is for the misuse of private information and arises out of an
arrangement formed in 2015 between Google and DeepMind and the Royal Free
London NHS Foundation Trust. The tech companies obtained and used a
substantial number of confidential and private medical records without
patients' knowledge or consent.

This representative claim being brought by Mishcon de Reya, provides access to
justice and a means of compensation which would not have been viable on an
individual basis due to the cost of the litigation process. Not only does it
provide a means of redress to those affected by the misuse of their private
and confidential medical records but this is also a significant claim for LCM
to support and fund.

 

Patrick Moloney, CEO of LCM, commented: "LCM has a long and deep experience in
funding large scale actions, many of which would not be possible without
litigation funding. As pioneers of the industry, we are well-placed to support
the claim in this action."

 

 

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/)

 

 

 

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