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Over $10.25 Billion in Capital Attended Litigation Funding “Speed Dating” Event

A recent conference in New York city attracted “a few dozen litigation funders, would-be investors and lawyers [who] scoped each other out…looking to make friends—and deals—to put private investment behind legal claims” writes Law360.

press release for the conference noted that over USD $10.25 billion in capital committed to attend the event.

One attendee, Kelly Hyndman, a partner at Sughrue Mion PLLC, said his firm was looking to develop “expertise in litigation funding deals and vet funders” as his firm has “spread the risk working with other lawyers [as co-counsel] but we think we can spread the risk better with a funder”. The litigation funding industry hit some significant “speed bumps” in recent years, including a recent ruling in California that mandates disclosure of third party funding agreements in proposed class action lawsuits.

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N.J. Federal Courts Will Now Require Disclosure of Litigation Funding

There is a Chinese Proverb that says, “never do anything that you want to remain a secret.” Now, thanks to a new rule amendment adopted by the U.S. District Court for the District of New Jersey, this proverb also applies to litigation funders in federal court in the Garden State. New Jersey’s decision is a significant victory in the fight to bring transparency to a multibillion industry that operates in the shadows.

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