In the News Today – August 25, 2016

ILR’s Harold Kim Quoted on Unclaimed-Property Audits: Harold Kim, executive vice president of the Institute for Legal Reform, spoke with the Sangamon Sun regarding the nationwide concern caused by unclaimed-property audits. “You see them in California, you see them in Massachusetts, and you see them down in Florida. Basically, what happened here is that you have these private audit firms (that) have been driving these auditing investigations over the course of the last five years. It has been a serious source of revenue for states like Delaware.” (Sangamon Sun)

Another Startup Aiming to Invest in Lawsuits: Legalist, a new startup similar to LexShares and Trial Funder, is the newest online litigation financer to jump into the rapidly expanding market. Legalist has invested $75,000 in one case so far, with a predicted potential for a $1 million verdict. The company expects to invest between $50,000 and $500,000 in a case. It hopes to get up to 50 percent of any award or settlement. (Silicon Valley Business Journal)