NEW YORK, April 22, 2020 /PRNewswire/ -- Tribeca Capital Group, LLC, a leading voice in the field of consumer pre-settlement funding, is pleased to announce its new initiative designed to expand its lawsuit client base to include high dollar commercial plaintiffs and the law firms who represent them.
"While we began as a firm working primarily with individuals in personal injury cases, we've known for some time that as a company we wanted to head in the direction of funding bigger and more complicated cases," said Rory Donadio, Tribeca founder. "We've got the know-how and the financial resources to make that happen."
Over the last ten years, the litigation funding industry has grown exponentially from its roots in consumer litigation over car accidents and medical malpractice. After those initial successes, lawsuit funding companies began financing more complex commercial litigation involving contract and compliance issues, class actions and multi-jurisdictional cases. Tribeca is poised to leverage its growth and experience as a successful investor in personal injury litigation to become a leading funder of plaintiff complex commercial lawsuits.
"Litigation is expensive," says Donadio. "Those with worthy cases often find themselves literally priced out of a case because of the resources needed to finance the litigation or to keep the plaintiff solvent during a case that can last months or years." As Donadio explains, other plaintiffs settle for less than their cases are worth because they can no longer afford the time or money to continue the fight. "We help level the playing field. And, just like consumer cases, if a commercial litigant doesn't receive a monetary award, we don't get paid either."
Lawsuit funding can also directly benefit the law firms, who often don't get paid until the case settles or the plaintiff wins at trial. Complex litigation can have a strong negative impact on the firm's cash flow. Litigation funding can help alleviate that pressure so that the law firm can focus on the litigation and not on whether it can make payroll.
"We've put a lot of work into our platform and have been able to help a lot of people," says Donadio. "I'm proud of the work we've done, and I look forward to these new challenges and taking our experience to the next level."
Since 2016, Tribeca has invested $150M in litigation and helped hundreds of plaintiffs. If you need help funding your case, or if you are a law firm prosecuting a case of any size, consumer to complex commercial litigation, contact Rory Donadio, Tribeca Capital Group, LLC, [email protected]