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Mishcon de Reya acquires majority stake in Somos

Mishcon de Reya acquires majority stake in Somos


Mishcon de Reya acquires majority stake in Somos, enhancing capabilities for large-scale group actions globally

Mishcon de Reya LLP has made a significant strategic move by acquiring a majority stake in Somos, a global group actions management business. This development includes admitting Somos founders, Pedro Martins and Tomás Mousinho, as Equity Partners in Mishcon de Reya's Dispute Resolution department.

Somos, based in São Paulo and Belo Horizonte, Brazil, is a comprehensive group actions management business, overseeing claims from initiation to conclusion. This encompasses marketing, onboarding claimant groups, compliance checks, ongoing communication, court preparations, and distribution of awarded proceeds.

Mishcon de Reya LLP, already renowned for its capabilities in large claimant and defendant group actions, has played a crucial role in high-profile cases, including pandemic-related disputes and a Supreme Court victory on behalf of policyholders in 2021. The acquisition of Somos represents a strategic alignment with Mishcon de Reya's 10-year vision, enabling the firm to handle more extensive and intricate cases.

In addition to its existing practices, Mishcon de Reya is committed to developing claims in environmental, fin-tech, and financial services sectors. This includes collective redress against UK-based multinationals for environmental issues, supporting investors affected by fraudulent cryptocurrency schemes, and pursuing claims against financial providers for mis-selling financial products.

Pedro Martins and Tomás Mousinho, former partners and co-founders of a leading group action law firm, bring international expertise to Mishcon de Reya. Their involvement in the Mariana dam disaster claim, representing 700,000 claimants against BHP for environmental damage, underscores their experience in handling complex cases. This acquisition positions Mishcon de Reya to tackle large-scale group actions globally.

Hugo Plowman, Partner and Chair of Dispute Resolution at Mishcon de Reya LLP, expressed excitement about the collaboration, noting that the acquisition would bolster the firm's ability to handle the most complex group actions in the UK. Pedro Martins and Tomás Mousinho echoed this sentiment, expressing enthusiasm about joining Mishcon de Reya as Equity Partners and contributing to the firm's robust group action practice. They look forward to leveraging their international experience to address harmful conduct globally and secure redress for clients.

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