News
Okin Adams Partner Jim Bartlett Wins Take-Nothing Judgment in Litigation Funding Dispute
Okin Adams partner Jim Bartlett, head of the firm’s litigation section, recently secured a take-nothing judgment as lead trial counsel for an online litigation funding platform accused of fraud and conspiracy in connection with two litigation funding transactions.
Litigation Funding Disputes
The lawsuit was filed by a Houston- and New York-based litigation boutique relating to two litigation funding transactions that took place in 2014. In the suit, the plaintiff alleged that the litigation funding platform—LitCap—misled it concerning the terms of its borrowing, fabricated promissory notes, and forged the notes’ electronic signatures.
The plaintiff asserted claims for fraud and conspiracy against LitCap and other defendants, and also requested declaratory, injunctive, and other relief. In connection with these claims, the plaintiff sought millions of dollars in damages (including exemplary damages), and requested an award of attorneys’ fees totaling over $940,000.
The bench trial of the case took place before Judge Caroline Baker over an approximately five-month period, and involved numerous testifying witnesses and several hundred exhibits. After the conclusion of trial and the submission of voluminous post-trial submissions by all parties, the court entered judgment against the plaintiff that, among other things, it take nothing on its fraud and conspiracy claims against LitCap and the other defendants. The court also denied the plaintiff’s claims for declaratory and injunctive relief, as well as its claim for attorneys’ fees.
The case is David H. Berg & Associates, PC d/b/a Berg & Androphy v. Virage Capital Partners SPC, et al.; Cause No. 2016-58408; in the 295th Judicial District Court of Harris County. You can read recent media coverage of the litigation on Law360.
Houston Fraud Lawyers
Okin Adams is a boutique Texas law firm assisting businesses of all sizes with their legal, financial, and strategic challenges. We provide our clients with business-based, practical solutions to these challenges by applying years of experience in the areas of bankruptcy, commercial litigation, and corporate transactions. Our firm accepts litigation funding disputes and other complex fraud cases on an ongoing basis. We are available to speak with you at your convenience.
