Litigation Funder LexShares Loses Bid to Toss Ex-CEO’s Bias Suit

Litigation finance firm LexShares Inc. must defend a lawsuit by its former Black CEO alleging he was discriminated based on his race.

Cayse Llorens sufficiently alleged that LexShares’ disparate treatment of him versus other White executives was a result of discriminatory animus that ultimately led to his departure, the US District Court for the District of Massachusetts said in an opinion Tuesday.

Two members of LexShares’ board were able to get individual liability claims dismissed because Llorens’ suit failed to sufficiently allege they personally acted with discriminatory intent, Judge Patti B. Saris said. “Most of the allegations in the complaint ...