INVEST IN OTHER PEOPLE’S LAWSUITS

gavel-and-moneyThink you can look at lawsuits and pick a winner? There is a new litigation finance platform called Mighty which allows you to put your money where your mouth is.

Mighty, is offering investors a chance to invest directly in lawsuits.

Investors value the case, and determine an annual rate of return to offer to the plaintiff for the financing. Plaintiffs have the opportunity to choose the best offer. If a case loses, the investor loses the investment. If the case is successful, the investor gets the investment back plus the return on their investment.

Investments are just a few thousand dollars each.

You make the plaintiff an offer based on your evaluation of the case. If your proposed rate of return is too high, you may lose it to another investor with a lower rate.  If the plaintiff accepts your offer of $5k with a rate of say, 30% per year, and the case settles after two years, the plaintiff will have to pay a total of $8k from the money they receive.

FRIVOLOUS LAWSUIT OF THE MONTH (WITHOUT AN ATTORNEY): Woman Sues For Tripping Over Gas Hose

gas pumpWhile Plaintiff, Twyla M., was filling her car with gas from defendants’ gas station, she became entangled in the fuel dispensing hose and fell. She sued.  (Twyla M. v. Rushabh Inc. Case No: 12824 G (District Court, Covington).

Can one sue for tripping over something if one was actually holding one end of said thing in one’s hand at the time of the trippage? Well, one can sue for anything, but it seems unlikely that one would prevail. One doesn’t know all the facts here, of course. Or, one does not have to in order to determine the outcome of this case.

On the other hand (so to speak), some states have comparative negligence statutes, meaning that even if the plaintiff were found 99% responsible for this injury, she would theoretically still receive 1% of her damages. In some states you can’t recover at all if you are found more than 50% responsible, but that’s not the rule in Louisiana where this is filed. So perhaps when the facts are all in, the result may not match our speculation as to the outcome.

Perhaps this is the first of a wave of hose-entanglement cases, we are going to see. Only time will tell.

Quote of the Month

“I have offended God and mankind because my work didn’t reach the quality it should have.”

– LEONARDO Da VINCI

Leonardo Da Vinci