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May 15, 2018

“What Are People Saying About Senate’s New Lit Funding Bill?”

Five days after the Litigation Funding Transparency Act of 2018 was introduced in the U.S. Senate, National Law Journal gathered the thoughts of the legal industry’s top members.

U.S. Chamber Institute for Legal Reform President Lisa A. Rickard said the bill “would pull back the curtain on third parties ‘gambling’ on” litigation which “turns our courtrooms into casinos and plaintiffs into little more than poker chips.” Sean Fahey, a partner at Pepper Hamilton LLP, said the “more people that understand what is going on, the more they agree that—at a minimum—more transparency is needed.”

The bill would require litigation funding and lawsuit lending transparency in all class action and multi-district litigation

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