Legal Funding Gains Steam But Doubts Linger

Law360, New York (August 14, 2008, 12:00 AM EDT) -- Still in its infancy, the legal funding industry has been gaining more acceptance, but doubts persist over whether the practice of advancing plaintiffs and businesses part of an expected settlement could lead to exploitation and fraud.

Not that long ago, people looked askance at the relatively unknown industry, but today business is booming, according to Gary Chodes, founder of Oasis Legal Finance, one of the top companies in the litigation funding arena.

“Five years ago, legal funding was pretty obscure,” he said. “Now it has emerged...
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