Some states are moving to increase transparency over who is financially backing lawsuits as legislators weigh the growth of third-party litigation funding.
The funding mechanism, in which outside parties invest in a lawsuit for a stake in the settlement or judgment, is “reshaping every aspect of litigation,” Phil Goldberg, managing partner at Shook, Hardy & Bacon LLP, told attendees Monday at the National Conference of State Legislatures legislative summit in Louisville, Ky.
Litigation funders are increasingly pouring money into mass tort cases against J&J and other large companies. Groups like ...