This is a law firm funding for a litigation boutique representing hundreds of plaintiffs against a municipality. The defendant was allegedly negligent when its contractors, who were hired to perform a large scale public works project, caused physical damage to the plaintiffs' properties. The plaintiffs, owners and operators of the properties and businesses in the affected municipality suffered substantial losses as a result of the work overseen by the defendant. The law firm representing the plaintiffs sought to recover damages from the decrease in historically significant property value and lost business and rental revenues resulting from the defendant’s alleged negligence.
LexShares’ funding provided the law firm pursuing these claims the ability to manage its contingency risk by covering critical operating expenses leading into multiple trials. The $500,000 investment from LexShares enabled the firm to pursue its desired litigation strategy in the context of representing hundreds of individual cases with similar claims.