Is the litigation finance industry “warping the legal system”? That’s the question explored by an in-depth look at the industry featured in today’s New York Times.
From looking at the major players in the industry, to highlighting notorious cases of abuse, such as the infamous litigation finance-backed Donziger/Ecuadorian lawsuit against Chevron — the Times‘ Mattathias Schwartz also notes ILR’s opposition to the industry.
ILR, writes Schwartz, “argues that litigation finance will prompt courts to award damages so large that they hurt American business.” He notes that ILR President Lisa A. Rickard has called litigation finance “the biggest single threat to the integrity of our justice system.”
Schwartz also highlights the threat to plaintiffs, writing that, “depending on the structure of the deal and the ultimate payout, plaintiffs sometimes walk away with a few crumbs after the funders and lawyers take their share.”
Read the full story here.