Plaintiff Uses LexShares to Raise Money for Whistleblower Lawsuit

An online application that assists with financing litigation has announced that the plaintiff in the case of US ex rel. Jennifer Perez v. Stericycle, Inc., et al. used its platform to raise funding during a whistleblower case — the result of which earned her a settlement of more than $28 million.

Plaintiff Jennifer Perez used LexShares to help advance her qui tam claim against her former employer, Stericycle, Inc. In the suit, she claimed that Stericycle defrauded government agencies when it failed to disclose accurate pricing information and adding prohibited charges to each bill. According to court documents, Perez claimed Stericycle hid 18 percent price increases, implemented every nine months, from the government customers.

A new way to seek funding for claims

LexShares is a litigation financing platform that brings together plaintiffs in commercial legal claims with investors who help fund their cases. It has been credited with helping individuals take legal action against large businesses and organizations, which tend to have powerful legal teams and funding capabilities behind them. It is only one of numerous online litigation funding platforms that have arisen in recent years.

Investors with LexShares provided funding to Perez in early 2015, with Stericycle deciding to settle later that year. The case originated in 2008.

Platforms like LexShares and others like it make it easier for whistleblowers and other claimants to take action against larger organizations. If you would like to learn more about how you can best protect your business, speak with a knowledgeable Dallas attorney at Whistleblower Law for Managers.