Hundreds of lawsuits against illegal online casinos - court rules in favour of consumers
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Issuer: Legal Finance SE
/ Key word(s): Contract/Sales Result
The Frankfurt-based litigation financier Legal Finance SE, a subsidiary of the stock-market listed company Nakiki SE (ISIN DE000WNDL300), is taking massive action against online casinos: According to current German legislation, most online casinos are illegal until 2021 and must compensate players for all losses incurred in recent years. This means that injured parties can use Legal Finance to recover all the money they have lost through legal action. Many players have lost tens or hundreds of thousands of Euros playing online poker or sports betting in recent years. This is where Legal Finance comes in: Legal Finance finances lawsuits against casino operators in German courts and takes care of the entire legal process together with specialised consumer protection law firms. The chances of success are high: German courts have already ordered several online casinos to pay refunds. In March of this year, the Federal Court of Justice (BGH) agreed with Legal Finance's legal opinion that most online casinos are illegal and that gambling losses must be reimbursed to victims. Legal Finance has a 40% success rate in each case. The average amount in dispute is between €30,000 and €50,000. Legal Finance initially plans to fund up to 100 cases per month and intends to increase this volume significantly. Legal Finance acquires cases by working with law firms, and claimants can also contact Legal Finance directly via dedicated websites. Mail: info@legalfinance.online Phone: +49 69 8700184-10 Fax: +49 69 8700184-19 Company register: AG Frankfurt HRB 127394 LEI: 391200W89Q4BYWJ9VZ03 Legal Finance is a litigation financing company based in Frankfurt am Main, Germany, which invests in international legal claims and litigation. Legal Finance finances standard litigation, e.g. in Germany, as well as large international litigation, mass torts, speculative claims, insolvency claims, special proceedings, e.g. state liability, UDRP, URS, ADR and similar, enforcement and debt collection. Legal Finance finances, among others, through Legal Finance International GmbH (Düsseldorf) and Legal Finance Processing Ltd. (London).
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