LegalFund’s IPO has been extended.

LegalFund Ltd (ASX: LFL) is dedicated to becoming a major provider of litigation funding and investment services in Australia, to enable aggrieved shareholders and other affected parties to pursue appropriate large-scale action for recompense and damages.

LegalFund is the holding company of LegalFund Australia and DC Legal. LegalFund Australia will be a litigation funding and legal investment company providing funding for more costly larger litigation matters and other legal cases that offer the opportunity to earn potentially large returns. Often such cases will involve disputes with large corporate entities, involving thousands of shareholders or customers and disputed damages that amount to millions of dollars. LegalFund aims to provide a funding mechanism to the many thousands of smaller shareholders who individually are not able to support the legal costs required to tackle such large legal matters, and in return obtain an agreed share of the outcome of the proceedings and a commercial return on the amounts advanced.

Litigation funders provide legal, accounting and insolvency professionals with a support service and enable clients to pursue appropriate legal action where warranted, without the usual cost constraints inherent in the traditional litigation “pay as you go” process.

In addition, LegalFund, through its wholly-owned subsidiary, DC Legal, has the apparatus to earn revenue directly from Class Actions through the provision of legal services directly to clients.

The LegalFund Group will proactively pursue appropriate matters for prosecution as well as offering its litigation funding and investment services to clients such as accountants and liquidators in need of financial assistance and support.

The Group’s officers and employees have experience to harness the growth opportunities that exist in litigation, underpinned by Australia’s relatively large shareholder base which included some 41% of the adult population in 2008. LegalFund Australia will be able to take advantage of DC Legal’s expertise in case selection to assist it in identifying appropriate cases to fund.