Defrauded Investors Fighting For Their Money
There has been an outbreak of lawsuits from defrauded investors who are looking to get their money back from schemers who have tricked them and lost their money. Since the global crash of the financial markets and the reports since then, investors have been asking more questions and being very weary of where they put their money.
After the crash, reports came out about record high fraud against investors, by their own advisers in some cases, which has increased litigation. The process starts with the investor finding out about the fraud and sues to get their money back. As more investors find out and join the suit, a lawyer is chosen or volunteers to represent them in court on a contingency basis. The courts declare them a class and now things are kicked into high gear.
As the class actions suit works its way through the court process, life still goes on for the plaintiffs and their attorneys. Bills have to be paid for both the plaintiff and the lawyer. The case alone against the defrauder will be expensive, especially if there is a high powered attorney for the defense. If the case is going to be a dog fight between the two sides, it will be expensive.
Legal funding can help the plaintiffs and the plaintiff attorneys. Investors are not always wealthy-sometimes they are people who live on pensions, 401ks, middle income people looking to build a retirement. For them to lose that money is a big adjustment, especially for retirees. They may have been depending on that money to help them keep their lifestyle prior to retirement.
For plaintiffs, legal funding can help them reclaim some part of the lives which was lost in the scam. That goes a long way for people who have just been rocked by a scandal like that. For attorneys, there are several different legal funding options: pre-settlement funding, post-settlement funding, an attorney line of credit, and case-cost financing. This frees up the attorney to devote all of his/her time to the case, not having to worry about the money situation.
In these cases, defendants who actually fight back give it all they have because they don’t want to go to jail, and their reputation is on the line. In terms of finance, reputation is all that counts and defrauding lawsuits tend to ruin that. The Bernie Madoff case was the symbol of the defrauded investor, a famous man from the financial sector taking billions from investors who trusted him. If he did not plead guilty, then it would have been a long and expensive trial. Legal funding could have balanced the scales for the plaintiffs because not every defendant does plead guilty.
About the Author:
Lulaine Compere is a writer and research analyst in the post-settlement lawsuit finance space.