Litigation Capital Management Ltd (AIM:LIT) (LCM), which specialises in dispute financing solutions internationally, said it has agreed to fund a claim alleging that Amazon.com Inc (NASDAQ:AMZN) engaged in anti-competitive conduct in the UK market.
The litigation agreement is with Julie Hunter, a consumer rights advocate and proposed class representative and relates to an application to commence a collective action soon to be launched in the Competition Appeal Tribunal against Amazon, the company said.
The agreement to provide a litigation finance facility is to fund a claim alleging Amazon.com Inc (NASDAQ:AMZN). and other entities in the Amazon Group engaged in anticompetitive conduct and abused its dominant position in the market for the provision of online marketplace services in the UK, in breach of section 18 of the Competition Act 1998 and/or Article 102 of the Treaty on the Functioning of the European Union, it said.
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In a statement, Patrick Moloney, CEO of LCM, commented: "We are pleased to enter into this new litigation finance agreement, which represents another important step as we grow our position as a leader in disputes funding in the UK market.
"In line with the increasing recognition of opportunities presented by litigation funding to consumers and the communities in which we operate, we are seeing an increasing number of competition-based claims in the UK."