Third party litigation funding (TPLF) is a multibillion-dollar global industry that is turning our courtrooms into casinos.
TPLF allows hedge funds and other financiers to invest in lawsuits in exchange for a percentage of any settlement or judgment. Without disclosure requirements and other commonsense safeguards, these funders may take control of litigation and fuel unmeritorious lawsuits.
A video from ILR’s Faces of Lawsuit Abuse explains why TPLF needs transparency, not secrecy. It’s time to drag the business of betting on other peoples’ lawsuits out of the shadows and examine it in the light of day.