Forbes this month reports that a litigation finance company has been sued by former customers, who have alleged that the company charged usurious interest rates. Says reported John O’Brien in the May 9 article, Customers Sue Legal Finance Company, Allege Interest Rates Over 100%:
Six individuals who did business with Oasis [Legal Finance] are suing the company in Georgia, asking for a federal judge to declare the interest rates charged by the company in violation of the lending laws of the state. The plaintiffs, who include a charge of usury, are also seeking class action status.
The full article is available here.