Calling once again for strict limits on third-party litigation funding, the US Chamber of Commerce said in a new report that unspecified foreign actors could use investments in US lawsuits to undermine national security. More from Reuters (free account required to access content).
The dispute between Burford and Sysco is heating up, as Burford seeks a court order enforcing an arbitration decision barring the food distribution giant from settling price-fixing claims against major U.S. chicken, pork and beef producers, after Sysco sued Burford for allegedly meddling in Sysco‘s efforts to settle cases.
KPMG has reached a confidential settlement agreement with the liquidator of Carillion over a £1.3bn audit negligence claim backed by Litigation Capital Management, while Britain’s auditing watchdog, the Financial Reporting Council, has yet to announce the outcome of its investigation in KPMG‘s audits of Carillion.
Suzanne Clark, President and CEO of the US Chamber of Commerce, delivered remarks at a State of American Business event on 12 January, in which she argued that the explosive growth in third-party litigation funding is not a feature of a fair or effective civil justice system, and stated that the Chamber will be pushing lawmakers to end lawsuit abuse by “going after litigation funders”.
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