Crowdsourcing Comes to the Booming World of ‘Litigation Finance’
An interesting read from Bloomberg. The article notes:
Litigation finance moved in a new direction with the launch of LexShares, a crowdsourcing website backed by Atlas Ventures.
Marketed as a populist courtroom ally, LexShares will “provide plaintiffs with equal access to justice and investors with access to a new asset class that is not correlated with broader capital markets,” according to Jay Greenberg, co-founder and chief executive. On its website, LexShares describes a variety of investment opportunities for small-scale financiers who would have to be “qualified” before being allowed to put money into pending suits. One involves a “whistle-blower” case against a “Fortune 100 company” accused of defrauding the federal government by submitting falsified contracts. LexShares lists the “offering size” as $100,000, with a minimum investment of $2,500.