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May 1, 2017

Litigation Funders Try “Speed Dating” For Business

Law360 writes that “a few dozen litigation funders, would-be investors and lawyers scoped each other out… looking to make friends – and deals—to put private investment behind legal claims.”

During the event one attendee, Kelly Hyndman, a partner at Sughrue Mion PLLC, said his firm was looking to develop “expertise in litigation funding deals and vet funders” as his firm has “spread the risk working with other lawyers [as co-counsel] but we think we can spread the risk better with a funder.”

Despite this litigation funding networking event, the industry has hit some significant “speed bumps,” including a ruling earlier this year in California that requires class action plaintiffs to disclose funders at their first court appearance. The Colorado Supreme Court in late 2015 also ruled that companies that advance money to claimants are making loans subject to that state’s Uniform Consumer Credit Code.

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