lawyers, Richard Fields, age 53, and Timothy Scrantom, 52, launched
a new hedge fund type of business (Juridica Investments) in
Juridica exchanges money with Fortune 500-size companies or their
lawyers in the early stages of corporate lawsuits, for a share of
the payoff if the plaintiffs win or settle. With $200 million under
management, Juridica has invested in 17 suits so far and they are
two for two in decisions.
Based in New York City, they raised money by selling shares on the
London Stock Exchange�s small-companies market. Shares are up about
20% since the launch.
fund paid a $5 million dividend to investors in April after a big
suit was settled. Because Juridica signs nondisclosure agreements,
names are not available.