Third Circuit Affirms Olshan Victory on Behalf of Litigation Funding Clients

Law360 reported that the U.S. Court of Appeals for the Third Circuit affirmed a District Court judgment in favor of Olshan clients Fast Trak Investment Company, LLC and RJC Funding, LLC.  In an opinion by the Honorable Jane Richards Roth, a three-member panel of the Court rejected Appellant's attempts to invalidate a series of litigation funding agreements executed in 2013 and 2014 on the grounds that such agreements were allegedly usurious. Also at issue was the calculation of damages under the agreements, which included increases in the repayment amount up through the date of the District Court's judgment.  The Third Circuit affirmed the decision of the District Court on all counts, finding the litigation funding agreements valid and enforceable and affirming the damages award of more than $500,000 in favor of Fast Trak and RJC.  The Olshan litigation team was led by Tom Fleming, with assistance from Nicholas Hirst.  Read the decision here.