Third party litigation funding (TPLF) has been in the news recently, yet most people don’t know it is a multi-billion-dollar industry that allows hedge funds and other financiers to secretly invest in lawsuits in exchange for a percentage of any settlement or judgment. ILR has advocated for disclosure and transparency of funding agreements so all parties in a lawsuit know who is funding and controlling the litigation.
In this episode of Cause For Action, Page Faulk, ILR’s senior vice president for legal reform initiatives, has an in-depth discussion with Skadden, Arps, Slate, Meagher & Flom Partner John Beisner, on why transparency is needed, whether foreign governments could be investing in U.S. lawsuits against American companies, and what a recent lawsuit against one of the biggest litigation funders reveals about the industry.
Interested in learning more about TPLF? Check out more resources on What You Need to Know About Third Party Litigation Funding.