New to the U.S., litigation funding company commits more than $1.5 million to class action against Chevron
According to a copy of the litigation funding agreement, Therium Litigation Funding IC currently has $1.7 million invested in the class action lawsuit against the oil giant. Judge Susan Illston of the U.S. District Court for the Northern District of California granted Chevron Corp.’s motion in August, requiring the agreement be released.
The Consumer Financial Protection Bureau’s release of its set of proposed rules coincided with a field hearing held in New Mexico Thursday. Under the bureau’s proposal, companies would still be able to include arbitration clauses in their contracts. However, for contracts subject to the proposal, the clauses would have to say explicitly that they cannot be used to stop consumers from being part of a class action in court.