Wall Street wants to cash in on litigation related to this year’s deadly wildfires in Los Angeles, Jef Feeley, Mark Chediak, Katherine Doherty, and Emily Siegel report.
Investment banks, hedge funds, and debt investors are vying for contracts to fund suits by potentially thousands of people against Edison International and the city’s Department of Water and Power. Jefferies Financial Group and Oppenheimer Holdings are among those seeking to fund the cases that could be worth billions.
A $16 Billion Industry: They are part of a more than 20-year-old, lightly regulated industry worth $16 billion made up ...
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