A story noting the “record income” posted by third party litigation-funder Burford Capital also notes the U.S. Chamber’s warnings over the practice of litigation funding.
“The U.S. Chamber of Commerce,” writes The American Lawyer’s Julie Triedman, “has warned that litigation financing will encourage frivolous lawsuits and has called for regulation.”
“And Burford has had at least one public relations disaster: a $4 million investment in 2010 in the controversial Ecuadorean pollution lawsuit against Chevron Corp,” adds Triedman. “Although the fund ultimately terminated the funding agreement a year later, the case was ‘a black eye for Burford,’ Paul Barrett, a longtime investigative journalist covering the Chevron litigation, has written.”
Read the full story here.