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February 25, 2014

Investing In Lawsuits

“Turning litigation into a business is corrosive of almost every good value of the rule of law,” Philip Howard writes in the Huffington Post.

He is troubled by the growth of lawsuit funding, where a third party is allowed to invest in litigation. The practice was once forbidden by laws that barred champerty, but litigation funding is getting more prevalent – and profitable.

The goal of the legal system, Howard writes, is to determine right from wrong. Investing in lawsuits, however, turns the justice system into a for-profit industry.

“Never stir up litigation,” Abraham Lincoln said. Allowing investors to buy stakes in lawsuits will only encourage frivolous suits and prolong cases.

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