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April 4, 2018

Wisconsin Governor Signs First-in-the-Nation TPLF Transparency Bill

Gov. Scott Walker yesterday signed a bill that makes Wisconsin the first state in the country to require disclosure of third party litigation funding arrangements, Law360 reports.

The provision, which was part of a broader legal reform bill, requires third party funders in lawsuits to be disclosed “without awaiting a discovery request.” In a blog post, U.S. Chamber Institute for Legal Reform President Lisa A. Rickard said the law “brings litigation funding out of the shadows” so funders “can’t anonymously ‘pull the strings’ of a lawsuit without other parties’ knowledge.”

The bill signing comes two weeks after an executive at one of the world’s largest funding firms admitted to the Wall Street Journal that litigation funding makes “it harder and more expensive to settle cases.”

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