SAN FRANCISCO -Saturday, September 30th 2017 [ AETOS Wire ]
(BUSINESS WIRE)-- International law firm Kobre & Kim, along with leading Jersey law firm Baker & Partners, announced today that they have entered into a funding arrangement with Bentham IMF to investigate and possibly sue CPA Global, alleging systematic and widespread overcharging of clients for patent renewal services. The firms are also working with the patent renewals consulting business Patent Annuity Costs Limited, headed by Peter Rouse.
CPA Global is one of the world’s largest patent renewal companies, reportedly processing more than 2 million patent renewals per year.
The potential actions will allege that CPA Global breached standard service contracts with what may be tens of thousands of clients through concealed mark-ups, in at least one case estimated to exceed 90 percent.
The proposed legal proceedings would be commenced in Jersey, one of the UK’s Channel Islands, where CPA Global is incorporated, on behalf of CPA Global clients whose agreements select Jersey as the forum for any disputes. Bentham IMF will provide non-recourse funding to CPA Global customers who wish to pursue claims against CPA Global.
James Corbett QC of Kobre & Kim, who is leading the investigation and proposed action, said the following:
"Based on the investigation so far, the overcharging could be shocking. Based on models, the aggregate over-charges could total hundreds of millions of dollars over a ten-year claim period."
Baker & Partners’ Senior Partner Stephen Baker said:
"We engaged with Bentham IMF to help clients enforce their rights on a risk-free basis without the need to secure representation. Given the international nature of CPA Global’s business, we have partnered with a global firm to work with our experienced Jersey team to seek effective redress for claimants from around the world."
Bentham IMF Investment Manager Matthew Harrison said:
"Patent holders worldwide contract with CPA Global for the renewal of rights associated with their most valued assets. CPA Global appears to have breached those contracts. Bentham IMF’s funding will enable Kobre & Kim and Baker & Partners to rectify CPA Global’s treatment of its customers while sparing the patent holders from incurring any fees and costs to participate in the litigation."
The potential litigation is funded by Bentham IMF. Participants will not be required to pay any fees unless their claim is successfully resolved, and then only from sums awarded by the Court.
CPA Global customers, past and present, can register for the potential action without charge or obligation at www.cpaglobal-litigation.com. To find out more about the investigation, please contact info@cpaglobal-litigation.com or call global toll free number +1 833 204 1724.
About Bentham IMF
Bentham IMF is the U.S. arm of publicly listed IMF Bentham Limited (ASX: IMF), one of the most successful litigation funding companies in the world, with a portfolio that has a total claim size value of $3.8 billion AUD. Together, Bentham has 11 offices throughout the U.S., Australia, Canada and Asia and provides funding to clients in jurisdictions including the U.S., Australia, Canada, New Zealand, Hong Kong and Singapore. Bentham has reviewed thousands of commercial cases in the past 16 years, funding to completion more than 162 cases and generating $2.1 billion AUD in recoveries. It has achieved a 91% success rate, with clients utilizing Bentham funding retaining an average of 62% of all case proceeds. Information about Bentham can be found at https://www.benthamimf.com/.
About Kobre & Kim
Kobre & Kim is an Am Law 200 law firm focused exclusively on disputes and investigations, particularly international matters involving fraud or misconduct. Our Intellectual Property & Technology Litigation Group focuses on large-scale, cross-border litigation common in IP-related class actions. The team understands complex technology and has represented the world’s foremost research and academic institutions, as well as industry leaders with strong brands and market relationships. We recognize the importance of preserving our clients’ reputations when they engage in litigation, and we work from the outset to maintain their credibility both within and outside the legal proceedings. Our cross-disciplinary team is qualified in multiple jurisdictions across the U.S., Asia, EMEA and the Caribbean, and our global reach allows us to effectively advocate for clients around the world. Information about Kobre & Kim can be found at https://kobrekim.com/.
About Baker & Partners
Baker & Partners is a specialist litigation and dispute resolution practice based in Jersey. The firm has been at the forefront of some of the most complex and high value litigation in the Island. The firm specialises in fraud; asset tracing and recovery; civil and commercial litigation; trusts disputes; regulation and insolvency. The firm's clients include governments, high-net-worth individuals, professional services firms and local and international financial institutions. Baker & Partners’ lawyers have extensive practical experience in the courts of not only Jersey but also England and Wales. Their skills, both inside and outside of the courtroom, enable the firm to achieve clients’ aims in an efficient and cost-effective way. Further information can be located on the Baker & Partners website at http://www.bakerandpartners.com.
About Patent Annuity Costs Limited
Patent Annuity Costs Limited was created to address the specific needs of users of patent annuity payment providers arising from what is a stubbornly opaque market sector that patent holders are ill-equipped to address. The company has joined with procurement experts Positive Purchasing Limited to offer ‘Patent Plus’, a service that equips patent holders to identify opportunities for cost reduction and better manage their supplier relationships. Information about Patent Annuity Costs Limited can be found at http://www.pacipr.com/.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170929005146/en/
Contacts
Media
Kobre & Kim:
Stefanie Trilling, +1 646 448 6213
stefanie.trilling@kobrekim.com
or
Baker & Partners:
Louise McNamee, +44 1534 766254
louisemcnamee@bakerandpartners.com
or
Patent Annuity Costs Limited:
Peter Rouse, +44 7737 128174
peter.rouse@pacipr.com
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