Pierce Bainbridge Funding Deal Raises Ethical Red Flags

By Andrew Strickler (March 16, 2020, 11:03 PM EDT) -- A deal signed by Pierce Bainbridge founder John Pierce to trade half of future returns from a selection of legal cases in exchange for upfront cash includes a handful of unusual elements and ethical red flags, experts told Law360.

The contract came to light in a recent lawsuit accusing Pierce and the firm of exaggerating the value of a case to secure outside funding.

The financing deal, penned two years ago by Arizona-based legal funder Pravati Capital LLC, put the task of valuing cases in the hands of Pierce Bainbridge Beck Price & Hecht LLP. But the responsibility for those valuations —...

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