“The European Parliament faces a crossroads: should it hand over control of the EU’s lawsuit system to an obscure but enormous industry known as third party litigation funding (TPLF)?”, writes Harold Kim, President of the U.S. Chamber of Commerce Institute for Legal Reform, for the Brussels Morning Newspaper.
Court of Amsterdam has dismissed a 10-billion-euro collective action lawsuit against Salesforce and Oracle brought on behalf of 75,000 claimants. The court found that the data privacy group that launched the case, The Privacy Collective, could not actually prove that it represents the interests of 75,000 Dutch citizens.
As reported by Artificial Lawyer, the German Legal Tech Group released a statement in opposition to the Legal Affairs Committee of the European Parliament’s proposal to bring transparency and commonsense safeguards to third party litigation funding (TPLF) in Europe.
According to an expert analysis in Law 360 class actions are on the rise in the U.K. and elsewhere in Europe. Third party litigation funding is a significant driver.
The European Parliament is taking the first steps towards government oversight of third party litigation funding. On June 28, Member of the European Parliament Axel Voss introduced a legislative own-initiative report in the Legal Affairs (JURI) Committee on responsible private funding of litigation, also known as TPLF.
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