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February 24, 2017

Class Action Reform Bill Would Spotlight “Cottage Industry” of Third-Party Litigation Funders

In a story examining the Fairness in Class Action Litigation Act, the Wall Street Journal’s Ben Depietro looks specifically at measures in the legislation that would “require disclosure of third parties funding class actions,” and notes the U.S. Chamber’s support for the bill.

Of the third-party litigation funding disclosure measures, Robert Stern, a partner at Orrick, notes that “a cottage industry has sprouted around the funding of class-action lawsuits, and so there is interest in the provision to require third-party lawsuit funders to be disclosed to the court.”

“If such disclosures lead to the discovery that a majority of class actions are being funded in part by a handful of people or groups,” said Orrick, “it would be interesting to see how it might play out in terms of additional legislation to curtail or impose restrictions on funding.”

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