Funders Decry NYC Bar's Litigation Finance Warning

By Andrew Strickler (August 10, 2018, 10:57 PM EDT) -- An ethics broadside from the New York City bar against a common litigation financing strategy in which lawyers pledge cuts of expected fees in exchange for upfront cash has riled major legal investors, some of whom are promising to oppose the opinion or change their deals to avoid the fee-splitting ban.

While not technically binding on New York lawyers, the dispatch from one of the most influential bars in the country comes at a key moment for the exploding legal investor community as it fends off concerns about how investor-backed cases may influence lawyers and fights calls for mandatory court disclosures....

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