Northern District of California “First in Nation” to Mandate Disclosure of Third-Party Funding

The U.S. District Court for the Northern District of California announced a new rule requiring the automatic disclosure of third-party funding agreements in proposed class-action lawsuits.

The Recorder writes that the rule is “groundbreaking” as “no U.S. district court has yet adopted a rule requiring the automatic disclosure of funding agreements.”

Lisa Rickard, President of the Institute for Legal Reform, called the Northern District proposal “a major step in the right direction.”