New York, NY (PRWEB) May 07, 2013
The Legal Finance Journal, an online publication for lawsuit investors, has released a new book: Investing in Justice, An Introduction to Legal Finance, Lawsuit Advances and Litigation Funding, by Max Volsky.
Max Volsky, who has been investing in lawsuits for more than a decade, is the founder and Chief Investment Officer of LexStone Capital, which funds commercial claims. He is also a partner at the international law firm of Schmidt, Volsky & Perle, LLP in Manhattan.
The book, says Volsky, is essential reading for anyone interested in litigation finance. “Our justice system often pits under-capitalized plaintiffs against defendants who are repeat players with vastly superior financial means. In many cases, defendants engage in a costly war of attrition that most plaintiffs are unable to bear. Because of the scarcity of capital, many lawsuits never proceed, run out of money, or settle for just a fraction of what they are worth,” says Volsky. “Litigation financing is a new asset class that allows non-lawyers to invest in the outcome of lawsuits while at the same time helping plaintiffs gain access to the legal system.”
Most people are all too familiar with the exorbitant costs that lawsuits often entail, but many don’t fully appreciate that enormity of the U.S. legal sector. In reality, this sector is larger than the GDP of Switzerland, but few non-lawyers have had the ability to invest in it until the advent of legal finance products.
Investing in Justice provides a very timely guide to legal finance, which in recent years has grown from a cottage industry into one of the most popular alternative asset classes in the world. In his new book, Volsky traces the origins of the industry from its humble beginnings in the late nineties to the emergence of large public companies that invest in lawsuits around the world. Along the way, Volsky defines the industry’s main products, analyzes the regulation of the industry in the U.S. and internationally, and addresses some of the criticism that has been leveled against the industry by detractors. Perhaps most important, though, is the author’s explanation of the lawsuit investment process, which offers many invaluable insights to anyone considering entering this burgeoning field.