A federal judge has granted Chevron Corporation’s motion to compel a plaintiff to reveal the identity of the litigation financing firm funding its proposed class action regarding a gas explosion off the coast of Nigeria.
Judge Susan Illston of the U.S. District Court for the Northern District of California rejected the plaintiffs’ attorneys’ first disclosure in the case which was heavily redacted and ordered a complete disclosure of the funding agreement.
“With this precedent in place, litigation funders will be forced to change their playbooks,” writes Above the Law. “If this precedent spreads, it will create an unpleasant debate for those inside the legal industry. But it will be good for investors… thanks to greater transparency. Investors should cheer these developments even as funder firms squirm in discomfort.”