The Los Angeles wildfires have generated potentially thousands of new clients for lawyers and prospects for billions in fees. Wall Street wants in on the action, too.
The chance at a piece of strong returns has encouraged investment banks, hedge funds and debt investors to vie for contracts to fund the litigation, according to people involved in transactions. That’s in addition to firms solely dedicated to funding lawsuits, which has grown into a $16 billion industry in the US over two decades.
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Jefferies Financial