A recent ruling by the United Kingdom’s Supreme Court clips the wings of investors gambling on the outcome of competition class actions. But it may only be a temporary restraint on financiers who seek to manipulate the court system for profit.
The Court was deciding whether two collective action lawsuits brought against truck manufacturers over alleged anti-competitive conduct could proceed, even though the suits were financed not by claimants or solicitors, but by investment firms—a practice known as third-party litigation funding (TPLF).
