Litigation

SEC Cracks Down on Alleged Fraud Scheme by Florida Duo in Mass Tort Litigation Financing

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Miami, Fla. — Federal regulators have charged two Florida men with operating a fraudulent scheme that allegedly swindled millions of dollars from investors, under the guise of funding mass tort litigation. The Securities and Exchange Commission (SEC) claims the duo misled investors about the potential returns and the usage of their funds, which were predominantly funneled into their own pockets rather than toward legal expenses as promised. According to the SEC, the individuals, from Broward County, presented their operation as a lucrative opportunity to invest in the outcomes of large-scale legal settlements. Investors were led … Read more

SEC Targets Florida Group in Alleged Multi-Million Dollar Litigation Finance Scam

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Miami — Federal regulators have charged two Florida men with orchestrating a sophisticated fraud scheme centered on the financing of mass tort litigation. The Securities and Exchange Commission (SEC) alleges that the duo misled investors about the potential returns and the nature of the investments involved. According to the SEC, the accused, from their offices in South Florida, promised substantial profits to investors by funding lawsuits with potentially high settlements. However, what the SEC claims to have uncovered deviates starkly from legitimate litigation financing practices. Primarily, the funds gathered from new investors were purportedly used … Read more

SEC Charges Florida Duo with Deceptive Financing Scheme in Mass Tort Litigation

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Tampa, Fla. – Federal regulators have charged two Florida men with orchestrating a fraudulent scheme that purportedly involved investing in mass tort litigation, but instead misappropriated millions from investors. The Securities and Exchange Commission (SEC) claims the duo promised substantial profits from funding plaintiffs in high-stakes lawsuits, yet those promises were hollow. According to the SEC, the accused, Edward B. Cole and Jon D. Hardister, allegedly duped investors into pouring approximately $28 million into such speculative litigation funding. The funds, however, were reportedly diverted to personal uses and unrelated business activities rather than the lawsuits … Read more

Philadelphia Mass Tort Litigation Concerning Janssen Bladder Medication Concludes Without Key Bellwether Trial

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Philadelphia — A significant legal battle involving the pharmaceutical company Janssen Pharmaceuticals over its bladder drug has concluded without proceeding to a bellwether trial, marking a notable development in mass tort litigations. The case centered around allegations that Janssen’s medication, which was intended to treat bladder conditions, caused severe side effects which were not adequately disclosed to patients. Over recent years, numerous patients had come forward with claims that the drug resulted in debilitating complications, spurring a series of lawsuits. Legal experts had anticipated that a bellwether trial would set precedents for the resolution of … Read more