SAN FRANCISCO, CA—Legalist (www.legalist.com), a technology-enabled litigation finance firm, has announced that cases funded by Legalist have collectively recovered over $500 million in damages across 20 concluded investments. Plaintiffs and law firms often use litigation funding to pay for costs and expenses when litigating against large defendants with greater access to resources, fueling higher recoveries than they might have received otherwise.
“Litigation finance gives plaintiffs the arsenal they need to stay in the game instead of accepting a low settlement,” says Legalist General Counsel Curtis Smolar. “Whereas previously, a plaintiff may have settled for less due to resource constraints, funding allows them to access the full value of their case.”
Started in 2016 by two Harvard drop-outs and advised by former US Court of Appeals judge Richard A. Posner, Legalist invests in commercial litigation by using algorithms that scrape state and federal court records to source and help underwrite investments. Unlike traditional litigation funders, Legalist exclusively focuses on mid-market cases that require less than $1 million in funding.
“Our focus has always been allowing small businesses to access the justice system when they’ve been damaged by a larger defendant,” says Legalist CEO and co-founder Eva Shang. “Legalist’s unique combination of technology and human expertise is what allows us to underwrite David vs. Goliath cases quickly and efficiently.”
To date, Legalist has made 60 investments in 82 cases over two funds.
Legalist is an algorithmic litigation finance firm that helps small businesses pay for their lawsuits. Founded in San Francisco, Legalist uses machine learning and AI technology to source and underwrite litigation investments. The company manages assets over $110 million and has been featured in the New Yorker, the Wall Street Journal, Boston Globe, and more. www.legalist.com