London firm Pogust Goodhead receives record $552m investment
An American fund manager has made the biggest investment in an English law firm since the introduction of new rules.
Gramercy, an investor based in Connecticut has put $552 million into London law firm Pogust Goodhead.
In 2022, Pogust Goodhead settled for £193 million with Volkswagen, addressing allegations that UK consumers were deceived by the German car manufacturer over emissions tests.
Last month, the firm represented 200 British women who were authorised by a judge to bring a case against Bayer, the German pharmaceutical group, following claims of injury by “sterilisation” apparatus.
Robert Koenigsberger, founder and CIO of Gramercy Funds Management, said: “We are pleased to be partnering with Pogust Goodhead. The firm has an exceptional track record and we have been impressed by the team and their approach to complex litigation.”
He added: “The investment materially aligns with our ESG and impact investing objectives. We are proud to play a part in helping Pogust Goodhead seek justice for some of the worst environmental actions over the past few decades.”
Harris Pogust, 60, chairman of the law firm, said: “Our mission is to defend the rights of those who have been wronged by some of the world’s largest multinational companies. In just the past two years, we have secured historic settlements against British Airways, Uber and Volkswagen.
“We currently represent over two million individuals regarding the Dieselgate scandal. Additionally, we are handling the largest class action in legal history against the world’s two biggest mining companies.
“We are just beginning the journey to bring justice to those who most deserve it no matter where they reside and regardless of the size and perceived power of the corporate wrongdoer.”