In an unexpected turn of events, former litigation associates from top law firms are getting involved in third-party case funding, in some cases, helping to fund the legal battles of their previous adversaries.
As a former associate at Wachtell Lipton Rosen & Katz, Charles Griffin was not privy to the existence of third-party case funding until he found himself involved in a case where the plaintiffs were supported by a litigation funder. Griffin, now a vice president on the U.S. investment team of Burford Capital, was part of the team defending client Match Group.
The case in question arose in 2018 when the founders of dating app Tinder filed a lawsuit against parent company Match Group, accusing the latter of cheating them out of $2 billion by manipulating financial data to downgrade the company’s perceived value. The suit, which concluded in 2021 with a settlement worth $441 million, underscored the significance third-party litigation finance holds in the litigation ecosystem, Griffin recounts.
Evan Meyerson, a former Paul Weiss associate who also transitioned to Burford Capital, points out that the skills associates develop in law firms can be transferred to litigation financing. “A big part of litigation strategy is thinking about what the other side thinks about your case and the job at Burford is to think through these investments as a devil’s advocate,” Meyerson articulated.
The emergence of former corporate defenders into the arena of third-party case funding captures the constantly evolving nature of the legal industry, offering fresh perspective on the broadened role of legal professionals.