Big Law has a long track record of internal squabbles over contingent fee payments and, despite the role that litigation funding plays in the increased use of contingent fee billing, lawyers are not interested in the advice of litigation funders on how best to structure compensation decisions, according to sources at two major litigation funders. More from Bloomberg Law.
Investors suing multinational companies for securities fraud are finding their footing in the Netherlands and other courts outside the US, as legal procedures in these courts are maturing, and litigation funders are flowing money into these jurisdictions, helping to remove obstacles.
A recent survey shows that funders and lawyers aren’t seeing eye to eye on mandatory disclosure, with more than three-quarters of funders disagreeing that disclosure of funding should be mandatory at the start of cases, while more than half of lawyers think the opposite.
California lawmakers are set to vote before the end of the month on legislation that would allow the California bar to test new legal service models to make them more affordable. An amended version of the bill would still prevent non-lawyer companies from co-owning firms, however, and ban the sharing of legal fees with non-lawyers, thus preventing firms from going public or taking investments from litigation funders and others. Despite these developments, William Farrell Jr. of Longford Capital still predicts that California will eventually loosen its regulations.
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