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Congress is once again attempting to regulate the $5 billion dollar litigation funding industry. The latest bill is aimed at “any commercial enterprise” involved in the funding of litigation. Recently introduced in the Senate, the bill has a good chance of passing both chambers.
Sean Fahey, a product liability and MDL defense specialist at Pepper Hamilton LLP, said the new bill's “simplicity” would provide a clear disclosure mandate that various federal rule tweaks also being debated in the courts and the class action bar would not. It would also discourage a minority of "unscrupulous" parties from using investor money to press weak cases before "selling off" a claim. 3 Things To Know About Congress’ New Litigation Funding Bill, Law360, May 18, 2018