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Litigation Capital Management Ltd - Sydney-based litigation financing - Enters litigation finance agreement to fund new representative action in the High Court of Justice of England & Wales on behalf of 1.6 million individuals versus Alphabet Inc's Google and DeepMind Technologies for the unlawful use of the confidential medical records of patients.
The misuse of private information is claimed to arise from an agreement formed in 2015 between, Google, DeepMind and the Royal Free London NHS Foundation Trust, from which the tech companies obtained and used private records without knowledge or consent.
"LCM has a long and deep experience in funding large scale actions, many of which would not be possible without litigation funding. As pioneers of the industry, we are well-placed to support the claim in this action," said Chief Executive Officer Patrick Moloney.
Current stock price: 103.26 pence
12-month change: up 5.4%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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