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LexShares Investment

$100,000

Case Type

Qui Tam Whistleblower

Jurisdiction

Federal

Case Details

In this qui tam case filed in 2008, Jennifer Perez alleged that her former employer Stericycle, the publicly traded medical waste disposal company, defrauded various government customers by withholding accurate pricing data. The defendant added unallowable charges to each bill, concealing its intent to add 18% increases which occurred every 9 months. Please note that the specific details for this case investment were made available by the plaintiff after voluntarily waiving confidentiality post-settlement.

Funding Impact

In this matter, the plaintiff was ultimately unable to obtain traditional financing based on her credit profile and lack of traditional collateral. Ms. Perez also had difficulty obtaining gainful employment due to her status as public whistleblower. LexShares provided financing of $100,000 to assist with the plaintiff’s personal expenses during the litigation process.

Case at a glance
Law Firm

Boutique litigation firm

Engagement Structure

Full contingency

Plaintiff

Jennifer Perez worked as a government customer relations specialist at Stericycle from 2004-2008, at which point Ms. Perez blew the whistle on her employer

Defendant

Stericycle Inc. specializes in collecting and disposing of regulated substances, such as medical waste and sharps, pharmaceuticals and hazardous waste. Founded in 1989, Stericycle became publicly traded in 1996 and became North America's largest provider of medical waste services in 2000. The company is publicly traded on NASDAQ under ticker symbol SRCL, and primarily serves healthcare facilities such as hospitals, blood banks and pharmaceutical manufacturers.

Case Stage at Investment Date

Discovery

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