Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Advanced Search Go
Free Newsletter Sign Up

Parabellum Capital Raises $450 Million Ahead of Covid-19 Suits

May 26, 2020, 12:36 PM

Litigation finance firm Parabellum Capital has raised a new fund with commitments exceeding $450 million, raising cash ahead of a potential torrent of coronavirus-related lawsuits and providing fresh evidence the industry remains popular with investors.

Virus Lawsuits: “There will be a slew of litigation that will derive from this experience,” Parabellum CEO Howard Shams said in an interview, referring to the pandemic.

Supply and Demand: Shams said litigation funders face “commoditization” as the amount of capital in the U.S. committed to finance commercial litigation has grown to roughly $10 billion. But he said the coronavirus has also eliminated some competition. Roy Strom has the story.

Was this email forwarded to you? Subscribe to our Business & Practice newsletter and get the best of our content delivered to your Inbox every morning.



Boeing Elevates New General Counsel, Compliance Chief
The Boeing Co. has a new general counsel and chief compliance officer as the Chicago-based aerospace giant consolidates those functions into one unit led by legal chief Brett Gerry.

Business of Law

Keller Rohrback May Represent Homeowner Against Former Client
Seattle-based law firm Keller Rohrback LLP may continue to represent homeowners suing USAA Casualty Insurance Co. over its alleged bad-faith refusal to pay for expenses after a house fire, the Washington Supreme Court said in a matter of first impression.

Legal Tech

Depositions Go Virtual During Pandemic, May Remain That Way
Squire Patton Boggs partner Steven M. Auvil in March asked an Ohio federal judge to take a rather unusual step in a case he was working on, compel a remote deposition.


Florida Newest State Aiming To Boost Access To Legal Services
Florida is looking to boost access to legal services while protecting its citizens from misconduct, a tough balancing act currently being attempted in several other states.

FedEx Loses Bid to Bounce Lichten & Liss-Riordan From Wage Case
FedEx Ground Package System Inc. can’t disqualify Lichten & Liss-Riordan PC from a nationwide driver-misclassification collective action, a Pennsylvania federal court ruled.


Judges Proceed With Caution in Restarting Jury Trials
Federal courts in some parts of the country have prepared for a cautious reboot of jury trials in civil lawsuits—equipped with disinfectant, measuring tapes, and extra jurors.

Also in the News

Follow Bloomberg Law’s global coverage of the coronavirus pandemic on our Coronavirus Outbreak channel, and track the latest changes in the federal court operations with our interactive map.


Associate Hourly Rate Tops $1K Amidst Bankruptcy Surge
In today’s column, a Big Law firm sparked anger by announcing Covid-19 pay cuts right before the long weekend; Morgan Lewis hired a four-lawyer (two-partner) investment funds team from MoFo in London; San Francisco-based corporate immigration firm Berry Appleman & Leiden is number one on the latest Diversity Scorecard; car rental company Hertz filed for bankruptcy Friday; Norton Rose Fulbright is planning a gradual return to its offices but also a permanent flex-work scheme; the judge who wants to review the DOJ’s dismissal of Michael Flynn perjury charges hired a trial attorney for advice.


INSIGHT: Litigation Finance Could Be a Lifeline During Pandemic
The coronavirus pandemic and its recession is hitting the legal industry hard, and firms are bracing for furloughs, layoffs, hiring freezes, and other adverse economic impacts. Eva Shang and Robbie Li of litigation funding firm Legalist say litigation finance can provide unique and critical support for the industry.

INSIGHT: Patent Ruling Begs the Question—What Is a Natural Person?
The U.S. Patent Office’s ruling that AI systems can’t be listed as an inventor on a patent leaves unanswered questions, and will likely not be the last word on the issue, McDermott Will & Emery attorneys say. They examine the status of AI and robotic personhood and questions surrounding the definition of a “natural person.”

INSIGHT: Minimizing Litigation Risks From Valuation Disputes During Covid-19
Valuation disputes may be just one face of an impending wave of litigation this year due to Covid-19 volatility, but they will be an important area, attorneys from Kobre & Kim write. Rather than take a “wait and see” approach, parties facing valuation disputes should move early, deliberatively, and creatively and conduct litigation analysis to be in a better position should litigation ensue.

INSIGHT: It’s Not Too Early to Plan a Presidential Transition
It’s not too early for presidential transition planning to begin, Steptoe & Johnson LLP’s Robert Rizzi says. In 2008 and 2012, the respectful (if wary) relationship between the candidates, and the outstanding cooperation of the White House, allowed transition teams to approach most issues by following past norms.

INSIGHT: What’s at Stake in EPA’s MATS Finding Reversal
The EPA’s recent rule concerning the Mercury and Air Toxics Standards (MATS) determines it’s not necessary to regulate “hazardous air pollutants” (HAPs) from power plants. Ballard Spahr’s Brendan Collins says the agency’s action has please no one and that MATS will likely remain in effect while litigation plays out.

INSIGHT: DOJ Ramps Up Crypto, FCA Enforcement Efforts During Covid-19
Top Justice Department enforcement trends have shifted since the arrival of the Covid-19 pandemic to focus on frauds involving testing, cryptocurrency, and False Claims Act violations, Baker McKenzie attorneys write. They also cite growing cooperation among U.S. attorney’s offices and state authorities, and say companies need to ensure they have strong compliance programs in place.


Kilpatrick Townsend’s Litigation Department added associates Hannah Corning (Dallas) and Caitlin Trevillyan (Washington) | Thomson Snell & Passmore has appointed Joanna Pratt as senior partner effective June 2020 | GrayRobinson hiredNatalie R. Wilson as a shareholder in Lakeland, FL; her focus will be on Elder Law, Estate Planning, Medicaid Planning, Probate, Trusts, and Wealth Transfer | Lewis Brisbois recently added Andrew Gendron as a partner in the Complex Business & Commercial Litigation Practice in Baltimore from Venable LLP.

If you haven’t already, be sure to follow Bloomberg Law on Twitter, Flipboard, LinkedIn, Reddit, Facebook and Telegram.

To contact the reporter on this story: Bruce Kaufman in Washington at