In the News Today – August 2, 2017

Third Party Funding Continues Expansion in UK; Oversight Needed: U.K. law firm Shepherd & Wedderburn LLP and leading litigation financier Burford Capital have inked a deal to fund an array of the firm’s cases as part of the first portfolio-based litigation funding agreement with a major British firm, according to a joint statement. The growth of third party litigation funding (TPLF) over the past several years has many organizations calling for more oversight of the industry. (Law360)

MDL’s Littered With Examples of TPLF Gone Wrong: Multidistrict litigation is “littered with examples of undisclosed non-party involvement gone wrong,” according to a recent motion requesting the disclosure of outside funding in lawsuits against the drug Taxotere. The motion cites “fee arrangements with doctors, medical screening of plaintiffs, and outside funders that allowed doctors to charge inflated costs on medical liens.” It also suggests that there is a “growing trend” toward disclosure, noting a proposal last month from ILR and dozens of business groups seeking an amendment from the Administrative Office of the U.S. Courts’ Committee on Rules of Practice and Procedure that would require disclosure of litigation funding in contingency fee cases. (The National Law Journal)