J&J Urges Court to Consider Role of Third Party Funders When Selecting Lead Counsel in Talc MDL
Johnson & Johnson (J&J) has asked a federal judge to order plaintiffs’ attorneys applying for lead roles in multidistrict litigation over talcum powder products to disclose whether they are backed by third-party financiers.
ILR President, Lisa Rickard, is quoted saying “it is essential for the courts in the talc cases as well as other litigation to know whether outside investors or hedge funds may be influencing or controlling the plaintiffs’ case and how they may benefit from it.”
“The request highlights increasing concern among the defense bar that plaintiffs’ attorneys should disclose the use of third-party financing firms. At least one federal district, in California, has proposed a rule that would require more transparency over outside funding,” writes the National Law Journal.
