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November 1, 2016

Northern District of California Rules Committee Moves to Expose Third-Party Litigation Funding

Litigation funders are pushing back against a proposed amendment to Civil Local Rule 3-15 introduced by judges in the Northern District of California that would require attorneys to disclose when their case is backed by a third-party investor reports The Recorder.

The rule comes as litigation finance firms have expanded their presence in the Bay Area and amid growing controversy over the role of third-party investment in the legal system. If adopted, the rule would be among the first for any federal court to specifically address litigation finance.

Lisa Rickard, president of ILR, is quoted in the article noting that the adoption of Northern District’s proposal “would be a major step in the right direction.” 

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