Lake Law Firm

What Lake Law Firm does

Lake Law Firm is a small, privately held law practice based in New York that specializes in personal injury cases arising from negligence. The firm operates with between 1 and 10 employees and maintains a web presence at lakelawfirm.com, but discloses no management team, partnerships, awards, or proprietary technology platform. Its core service offering is plaintiff-side personal injury representation, with revenue mechanics typical of contingency-fee legal practice.

Beyond traditional personal injury work, the firm has extended into litigation finance, establishing a program intended to attract outside investor capital to fund mass tort cases and federal tax claims. Investor Rick Solit reportedly committed $5.3 million to this program, which would represent a significant capital raise relative to the firm's small operational footprint.

In 2025, the firm became the defendant in a lawsuit filed by Rick Solit seeking approximately $6.2 million (alternately reported as more than $6 million), alleging the litigation finance program operated as a Ponzi scheme and that the firm failed to fund promised mass tort and federal tax cases. The litigation introduces material uncertainty about the firm's operational integrity, capital deployment, and ability to continue its expanded service line.

Name

Lake Law Firm

Legal name

Lake Law Firm

Website

https://lakelawfirm.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Lake Law Firm is a small New York-based personal injury law firm (1-10 employees) that operated a litigation finance program funded by a $5.3 million investor commitment, and is currently the defendant in a 2025 lawsuit alleging fraud.

Ownership category

akta.pro rank

Product category

Personal Injury Legal Services

NAICS

Offices of Lawyers (541110), Offices of Lawyers (54111)

SIC

Services-Legal Services (8111)

akta.pro primary industry

Personal Injury & Insurance Defense (BPAHAAAM)

akta.pro secondary industry

Private Credit — Litigation / Legal Finance (FSAHAJAL)

Keywords

• Personal injury law
• Litigation finance
• Mass tort funding
• Negligence claims
• Federal tax claims

Headquarters

HQ city

Columbia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Others

Core offering

Lake Law Firm is a law firm that represents clients in personal injury cases stemming from negligence. In addition to legal representation, the firm operates a litigation finance program that accepts outside investor capital to fund mass tort cases and federal tax claims, with returns tied to case outcomes.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Injury Legal Representation
• Litigation Finance Program

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves3 records

Expansion highlights2 records

Direct peers

• Omni Bridgeway: Global litigation finance and dispute resolution funder with significant U.S. mass tort exposure. Comparable to Lake Law Firm on the litigation finance side of the business, and illustrates the institutional alternative capital model the firm aspired to.
• Burford Capital: Largest publicly traded litigation finance provider globally. Directly comparable to Lake Law Firm's litigation finance program activity, though at an institutional scale and with disclosed governance — opposite end of the spectrum from the program's alleged practices.
• Weitz & Luxenberg: New York-based personal injury and mass tort law firm with a strong litigation practice. Closely comparable to Lake Law Firm on geography, plaintiff-side orientation, and mass tort activity, but operating at materially larger scale.
• The Barnes Firm: Personal injury law firm with New York presence and a focus on negligence-based claims. Comparable to Lake Law Firm on practice area, plaintiff-side orientation, and target client base.
• Cellino & Barnes (now Cellino Law): Plaintiff-side personal injury firm known for personal injury and negligence-based claims. Comparable in core offering to Lake Law Firm, though focused regionally and reliant on mass-media advertising.
• Rheingold, Giuffra, Ruffo & Kaplan: Plaintiff-side personal injury and medical malpractice firm based in New York. Comparable in practice mix, geography, and plaintiff-side contingency-fee model to Lake Law Firm.
• Gair, Gair, Conason, Rubinowitz, Bloom, Hershenhorn, Steigman & Mackauf: New York-based plaintiff personal injury and wrongful death firm. Directly comparable to Lake Law Firm on geography, practice area (negligence/personal injury), and plaintiff-side orientation.

Broad incumbents

• Morgan & Morgan: One of the largest plaintiff-side personal injury law firms in the U.S. Directly comparable to Lake Law Firm in core practice area (negligence-based personal injury), though with vastly greater scale, geographic reach, and marketing budget.

Emerging players

• Legalist: Tech-enabled litigation finance provider funding commercial and plaintiff-side claims. Comparable to Lake Law Firm on the litigation finance program activity, though using a data-driven institutional model rather than a law-firm-embedded program.

Regional players

• Pomerantz Law Firm: Plaintiff-side mass tort and class action firm with New York operations. Comparable in plaintiff-side orientation and mass tort activity referenced in Lake Law Firm's litigation finance program.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat1 record

Key risks6 records

Key highlights4 records

Customer concentration

• Xx.com/lakelawfirm
• Facebookfacebook.com/114791651875893
• LinkedInlinkedin.com/company/lake-law-firm

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lake Law Firm