Critics Pushing Back On 3rd-Party Funding Disclosure Rule
Law360, New York (June 21, 2017, 7:08 PM EDT) -- Litigators, legal industry experts and financiers are reacting with skepticism to the U.S. Chamber of Commerce's renewed push earlier this month for a change to federal civil procedure rules mandating the disclosure of third-party litigation funding arrangements, saying the organization's bid is dubiously argued, hasty and unnecessary.
The June 1 petition, written by the Chamber Institute for Legal Reform president Lisa A. Rickard and endorsed by over two dozen groups, including local chambers of commerce and insurance and defense trial lawyer organizations, proposes that Rule 26 be amended to require the initial disclosure of any funding agreement in which a nonparty...
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