RD Legal Offers Post-Settlement Funding to Plaintiff’s Attorneys with Citigroup Settlements
Citigroup has agreed pay over $600 million to settle two shareholder lawsuits. In one lawsuit, Citigroup will pay $25 million to investors who say they were misled by the quality of mortgage backed securities. The other lawsuit has Citigroup paying $590 million to investors who claim they were misled about the bank’s exposure to subprime mortgage debt.
In the meantime, for plaintiff’s attorneys seeking post-settlement financing, RD Legal Funding, LLC (“RD Legal”) is ready to help bridge the gap between settlement and case payout to help lawyers continue their pursuit of justice. RD Legal has been one of the nation’s leading providers of lawsuit funding to attorneys for over 15 years.
The recession of 2008 almost annihilated the financial industry due to bad mortgages polluting the system. The American dream of owning a home was contagious, and workers in the financial sector realized this when they securitized them. Mortgage backed securities were the latest financial phenomenon. As mortgage backed securities became more widely used by the banks, lending standards decreased, and insuring these securities became more difficult.
The fees were high on mortgage backed securities with the banks generating millions in profits. The rating agencies backed up their quality and they were highly recommended to investors. When the system was on the brink of collapse and subsequently rescued by the United States government, there were reports of investors being sold shoddy products. Eventually, hearings followed. It was clear that bankers knew the investments were set to blow. Investors seeing this decided to sue over misrepresentation of the investments by banks like Citigroup.
RD Legal can provide plaintiff’s attorneys with unpaid Citigroup settlements interim post-settlement funding, which provides immediate capital on settled legal fees. Settlement financing does not require any kind of payments until the fee is paid. There is no monthly interest or principal payments, nor are there any upfront points or fees. Once the necessary documentation is received, RD Legal can wire funds within several days.
For more information about post-settlement funding solutions, please call RD Legal toll-free at 1-800-565-5177, or visit their website at http://www.legalfunding.com.
Lulaine Compere is a Deal Origination Analyst at RD Legal Funding, LLC, a leading provider of post-settlement lawsuit finance solutions to attorneys and their clients.