Goldberg: Third-Party Litigation Financing Puts U.S. Civil Justice System At Risk
The U.S. civil justice system is at risk as hedge funds, foreign wealth funds and other investors are transforming American courtrooms into a new capital market, Shook Public Policy Practice Co-Chair Phil Goldberg writes in an article for The Hill.
In “We All Should Care Who Funds The Fight for Justice,” Goldberg and his co-author say that the scale of such investments, referred to as third-party litigation financing, “is staggering and growing fast.” They cite the U.S. Government Accountability Office, which estimates that third-party financing assets doubled from 2017 to 2021. Money is pouring in without checks and balances, they say.
“There are no rules to safeguard the integrity of the civil justice system, protect people’s ability to achieve justice or prevent courts and litigants from being manipulated by outsiders — including America’s foreign adversaries,” they say.
Read the article at The Hill >>
In “We All Should Care Who Funds The Fight for Justice,” Goldberg and his co-author say that the scale of such investments, referred to as third-party litigation financing, “is staggering and growing fast.” They cite the U.S. Government Accountability Office, which estimates that third-party financing assets doubled from 2017 to 2021. Money is pouring in without checks and balances, they say.
“There are no rules to safeguard the integrity of the civil justice system, protect people’s ability to achieve justice or prevent courts and litigants from being manipulated by outsiders — including America’s foreign adversaries,” they say.
Read the article at The Hill >>
