Tuesday, June 23, 2020

Posner leaves Legalist

Law.com has Lit Funder Legalist Hits 100-Case Mark as Posner Departs

  • San Francisco-based litigation funder Legalist has cracked the milestone of over 100 cases under investment, three years since the business was founded by two Harvard dropouts.
  • The company’s investment team now includes former litigators from Fox Rothschild, Duane Morris, Gibson Dunn, Brown Rudnick and other firms. One departure, however, is famed former U.S. federal appeals court judge Richard Posner, who was announced as an adviser roughly a year ago.
  • Founder and CEO Eva Shang said that the retired jurist had to step away as a result of health concerns, but Legalist was in the process of bringing another former judge on board.
  • According to the company, it currently has capital committed to more than 100 cases via 81 investments, some of which are in portfolios. Shang said that Legalist’s focus on cases that require less than $1 million in funding has opened the doors to a significant number of opportunities.