Litigation financer LexShares has ditched plans to launch a new fund and cut its payroll in half, citing lingering effects of the pandemic on its case pipeline.
The company is in harvest mode, according to Max Schmidt, its managing director of investments. LexShares is focusing on managing its current portfolio as it waits for cases it’s backing to be resolved.
“The pandemic caused tremendous delays and many cases that we thought would settle or just at least be resolved through the middle and end of 2024 haven’t resolved yet, they’re still in litigation,” Schmidt said.
CEO Max Doyle left LexShares ...
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