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A Big Win for Integrity: New York City Bar Association Rules Out Splitting Fees With Investors

August 16, 2018

One of the most influential bar associations in the country has voiced a full-throated condemnation of a core element of the litigation funding business model: promising a percentage of anticipated fees in exchange for cash.

  1. U.S. Chamber Commends Supreme Court for Reining In Abuses of Alien Tort Statute

    April 17, 2013 | Press Release

    Decision limits the ability of plaintiffs to import foreign lawsuits into U.S. courts... Read More

  2. Business Coalition Letter to the Japanese Consumer Affairs Agency Regarding Expansion of Class Actions

    March 26, 2013 | Press Release

    Urgent Proposition on the Japanese Class Action System (Shudan Sosho Seido) Keidanren, Japan Chamber of Commerce and Industry (JCCI), Keizai Doyukai, American Chamber of Commerce in Japan (ACCJ), U.S. Chamber Institute for Legal Reform (ILR), European Business Council in Japan (EBC), and BUSINESSEUROPE are comprised of member companies and management executives committed to producing quality products and services for consumers in Japan. We support legal systems that offer remedies for consumer damages, including appropriate activities by consumer consultation centers or consumer organizations, Alternative Dispute Resolution (ADR) and legitimate claims filed in civil litigation.... Read More

  3. In the News Today - March 24, 2014

    March 24, 2013 | News and Blog

    "We're particularly concerned about developments here in third-party litigation financing," ILR president Lisa Rickard told the Australian Financial Review. ... Read More

  4. U.S. Chamber Applauds West Virginia’s Outside Counsel Sunshine Policy

    March 21, 2013 | Press Release

    Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform, made the following statement today about West Virginia Attorney General Patrick Morrisey's new proposed procedures and guidelines for hiring outside counsel.... Read More

  5. U.S. Chamber Commends Supreme Court for Limiting Class Action Abuses

    March 19, 2013 | Press Release

    Unanimous Ruling Preserves Key Provision of Class Action Fairness Act WASHINGTON, D.C. - The U.S. Chamber of Commerce today praised a decision by the U.S. Supreme Court that preserves a key provision of the landmark Class Action Fairness Act (CAFA). In its ruling today in the case of Standard Fire Insurance Company vs. Knowles (available here), the Court unanimously rejected a scheme by plaintiffs' lawyers to circumvent CAFA's $5 million amount-in-controversy requirement and prevent major class actions from being tried in federal court. The purpose of CAFA was to ensure that major class actions are tried in neutral federal courts rather than certain plaintiff-friendly state courts.... Read More

  6. U.S. Chamber Statement on House Asbestos Reform Hearing

    March 13, 2013 | Press Release

    "For too long, asbestos bankruptcy trusts have operated without adequate oversight. Courts around the country have uncovered examples in which plaintiffs' lawyers have filed inconsistent or fraudulent claims with multiple trusts and in the court system. This abuse shortchanges legitimate asbestos claimants while hurting solvent companies, their shareholders and employees.... Read More

  7. U.S. Chamber Releases Annual List of 2012 Most Ridiculous Lawsuits

    December 27, 2012 | Press Release

    Intoxicated driver suing deceased victim tops list in poll spotlighting most outrageous abuses of legal system... Read More

  8. U.S. Chamber Film Spotlights How Lawsuits Closed a Manufacturing Icon

    December 27, 2012 | Press Release

    The U.S. Chamber Institute for Legal Reform (ILR) today announced the release of a first-of-its-kind short film spotlighting the last week in business for portable gas can manufacturer Blitz USA before frivolous lawsuits forced it to close. The short film, viewable at FacesOfLawsuitAbuse.org, marks the campaign's most aggressive effort to date in chronicling the toll lawsuit abuse takes on American small businesses and jobs.... Read More

  9. Land Rush: The Latest Legal Frontier of Unclaimed Property Enforcement and Litigation

    December 24, 2012 | Research

    The life insurance industry has long been a cornerstone of the American economy - a source of financial security for 75 million households, as well as a major institutional investor in United States corporations. Over the past several years, however, life insurance companies have been buffeted by a storm of regulatory inquiries, audits, settlements and civil litigation concerning the payment of death benefits and the "escheatment" of unclaimed insurance proceeds to various states.... Read More

  10. Judicial Hellholes Report Spotlights Problem Civil Justice Jurisdictions

    December 14, 2012 | Press Release

    Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), issued the following statement regarding today's release of the report Judicial Hellholes 2012/2013 by the American Tort Reform Association ... Read More

  11. U.S. Chamber Applauds Passage of Landmark Ohio Bill Curbing “Double Dip” Asbestos Claims

    December 11, 2012 | Press Release

    Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), issued the following statement today regarding House Bill 380, which will curb "double dip" claims against asbestos bankruptcy trusts and in the tort system.... Read More

  1. In the News Today - August 16, 2018

    August 16, 2018 | News

    Former Lawyer Charged With Stealing IDs to Apply For Lawsuit Loans... Read More

  2. Law Professor: Potential "Ethics Violation" In TCPA Lawsuit Filed on Behalf of Man Who Passed Away

    August 16, 2018 | News

    A University of Virginia Law professor said a Telephone Consumer Protection Act lawsuit on behalf of a man who passed away last March "would be an ethics violation" if the lawyers knew the client had died before filing the suit, Legal Newsline reports in Forbes.... Read More

  3. In the News Today - August 15, 2018

    August 15, 2018 | News

    Texas County Officials Were "In Over Their Heads"... Read More

  4. Coffee Warning Labels Not Needed, State of California Says

    August 15, 2018 | News

    Ahead of a public hearing on court-imposed cancer warning labels on coffee products, the state of California has proposed a rule that would keep the warning labels off, the New York Times reports.... Read More

  5. In the News Today - August 14, 2018

    August 14, 2018 | News

    RICO Suit Accuses California Firm of Bribing Plaintiffs; Ontario Rejects "Jurisdictional Overreach" for Securities Lawsuits... Read More

  6. West Virginia House Moves Forward on Supreme Court Impeachments

    August 14, 2018 | News

    The West Virginia House of Delegates voted to impeach all four sitting state Supreme Court justices yesterday, WV Public Broadcasting reports.... Read More

  7. In the News Today - August 13, 2018

    August 13, 2018 | News

    Litigation Funders Rail Against NYC Bar's TPLF Warning; A Culture of "Lawyer-Powered Litigation": A Warning to Florida's Small Business Owners... Read More

  8. "Why Ohio Nixed The New Liability Insurance Law Restatement"

    August 13, 2018 | News

    The Co-Chair of Mintz Levin Cohn Ferris Glovsky and Popeo PC's Insurance Practice said in a Law360 op-ed that Ohio legislators took "decisive action" to reject the American Law Institute's (ALI) Restatement of Law, Liability Insurance because the "red flags" about "ALI's over-reaching" were "ignored again."... Read More

  9. In the News Today - August 10, 2018

    August 10, 2018 | News

    Cabell Circuit Judge to Replace Indicted Justice on West Virginia Supreme Court; Ecuador Attorney General Says the Country Will Likely Lose Chevron Case... Read More

  10. It's Getting Harder to File "Meritless" Merger Lawsuits, Advisor Says

    August 10, 2018 | News

    A communications advisor with an investor relations firm said in D&O Diary that it may be "getting more difficult" for plaintiffs' lawyers to file "questionable" merger lawsuits now that the effects of the Delaware Court of Chancery's Trulia decision are taking hold.... Read More

  11. In the News Today - August 9, 2018

    August 09, 2018 | News

    Lawsuit Reform is Key Ingredient for Arkansas' Future; Lawyer-Lender Fee Deals An Ethics Breach, NYC Bar Says ... Read More

  1. A Big Win for Integrity: New York City Bar Association Rules Out Splitting Fees With Investors

    August 16, 2018 | Blogs

    One of the most influential bar associations in the country has voiced a full-throated condemnation of a core element of the litigation funding business model: promising a percentage of anticipated fees in exchange for cash.... Read More

  2. Why is a Securities Class Action Lawsuit In Massachusetts Causing a Stir in the Arkansas Legislature?

    August 06, 2018 | Blogs

    Boston and Little Rock are more than 1,200 miles apart, but a $300 million settlement in a securities class action lawsuit has developments in the former causing concerns in the latter. ... Read More

  3. From Theory to Practice: DOJ Asserts Its Rightful Authority

    August 01, 2018 | Blogs

    For more than 30 years, the Department of Justice (DOJ) has largely declined to take action against frivolous litigation under the False Claims Act (FCA)-but that's starting to change.... Read More

  4. 20 Years of ILR Accomplishments: Lending a Helping Hand to a Local Business

    July 23, 2018 | Blogs

    On May 3, 2005, the Chung family opened up their dry cleaning store in Washington, D.C. for what should have been a normal day of business. Thirteen years later, the District of Columbia Board on Professional Responsibility recommended one of the Chung's customers from that day be suspended from his profession.... Read More

  5. Finally: A Plaintiffs' Lawyer Who Stopped at Nothing Pays the Price

    July 20, 2018 | Blogs

    A New York appeals court has turned what could be the last page on a twisted tale of manipulation, bribery, back-room dealing and bombast that is sure to go down in legal history. Last week, the court suspended the law license of plaintiffs' bar crusader Steven Donziger until further notice.... Read More

  6. Lawsuit Lending Again Rears Its Ugly Head, This Time for Injured Football Players

    July 19, 2018 | Blogs

    Look no further than the National Football League (NFL) concussion settlement as an example, where lawyers, plaintiffs, and the court are engaged in a legal battle that has nothing to do with the settlement's purpose.... Read More

  7. No Good Deal Goes Un-litigated

    July 18, 2018 | Blogs

    Want to sign a merger deal? You'll probably need to fight a lawsuit before the ink is dry, and it won't be cheap.... Read More

  8. California Legislature Refuses to Rein in Misleading Drug Lawsuit Ads

    July 12, 2018 | Blogs

    California plaintiffs' lawyers came out in force last week to stop a bill that would make deceptive drug lawsuit advertising by lawyers a violation of the state's major consumer protection law. The bill was unanimously passed by the California Assembly in May, but a hearing scheduled before the state Senate Judiciary Committee for July 3 was abruptly cancelled after the politically-powerful group, Consumer Attorneys of California, voiced its opposition. ... Read More

  9. Securities Class Action Lawsuits Remain Near 2017 Record High

    July 12, 2018 | Blogs

    The chances of a company being sued in a securities class action lawsuit are higher now than at any time in the 20 years since Congress passed the Private Securities Litigation Reform Act (PSLRA), which rewrote the rules for modern securities fraud litigation in 1995. ... Read More

  10. Senate Must Confirm Brian Benczkowski Today

    July 11, 2018 | Blogs

    Today the U.S. Senate is scheduled to vote on confirming Brian Benczkowski to this key post, which will allow DOJ to continue on its path of reining in over-enforcement against American companies. ... Read More

  11. California Coffee Kills

    July 03, 2018 | Blogs

    Or at least, that's what the state's Proposition 65 law might lead you to believe.... Read More

  1. Survey: Only 13 Percent of Consumers Support European Commission's Current Collective Action Lawsuit Proposal

    July 11, 2018 | Press Release

    ... Read More

  2. Report: U.S. Supreme Court Ruling Can Help Businesses Defend Against Lawsuit 'Forum Shopping'

    June 04, 2018 | Press Release

    ... Read More

  3. Consumers Overwhelmingly Say Lawsuits Should Not "Regulate" New Technologies

    April 18, 2018 | Press Release

    SEATTLE, WA - During an event today the U.S. Chamber Institute for Legal Reform (ILR) will release a new survey finding that, contrary to the claims of many plaintiffs' lawyers, nearly 82 percent of consumers believe that filing lawsuits is not the best way to regulate emerging technologies, such as cars that operate without a human driver. ... Read More

  4. U.S. Chamber: Proposal Could Make EU a Major Global Hub for Abusive Litigation

    April 11, 2018 | Press Release

    Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), issued the following statement today about the European Commission's proposal to rescind and replace the EU's "Injunctions Directive." The proposal would create a new European Union-wide framework for collective redress (class action lawsuits): ... Read More

  5. U.S. Chamber: D.C. Circuit Ruling a Positive Step, But Congress Should Modernize the Telephone Consumer Protection Act

    March 16, 2018 | Press Release

    Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), issued the following statement today about the D.C. Circuit Court's ruling vacating portions of the Federal Communications Commission's (FCC) 2015 Telephone Consumer Protection Act (TCPA) declaratory order:... Read More

  6. Report: Asbestos Bankruptcy Trusts Running Short of Money to Pay Future Claimants, System Lacks Safeguards

    March 08, 2018 | Press Release

    WASHINGTON, D.C. -- A new report released today by the U.S. Chamber Institute for Legal Reform (ILR) highlights that asbestos bankruptcy trusts are being depleted, jeopardizing their ability to fully compensate future claimants.... Read More

  7. Lawsuit Claiming Consumer was "Deceived" About Sugar in Jelly Beans Named Most Ridiculous of 2017

    December 21, 2017 | Press Release

    Annual List of Top 10 Most Ridiculous Lawsuits Released Today... Read More

  8. Study: Rx Drug Lawsuit Ads Cause Spike in Reports of Patient Health Incidents, Deaths

    October 25, 2017 | Press Release

    WASHINGTON, D.C. -- A new report released today by the U.S. Chamber Institute for Legal Reform (ILR) shows that lawsuit ads targeting prescription drugs and medical devices have caused at least 61 serious medical events -- including six deaths -- an increase from previous reports.... Read More

  9. U.S. Chamber Announces 2017 Legal Reform Award Winners

    October 25, 2017 | Press Release

    WASHINGTON, D.C. -- The U.S. Chamber Institute for Legal Reform (ILR) today announced its 2017 Legal Reform Award winners at its 18th Annual Legal Reform Summit.... Read More

  10. U.S. Chamber Applauds Senate Vote to Undo CFPB's Arbitration Rule

    October 24, 2017 | Press Release

    WASHINGTON, D.C. -- U.S. Chamber President and CEO Thomas J. Donohue issued the following statement today following U.S. Senate passage of H.J. Res. 111, disapproving of the Consumer Financial Protection Bureau's (CFPB) arbitration rule...... Read More

  11. U.S. Chamber Praises House Passage of Legislation to Bar Federal Agencies from Diverting Settlement Money to Third-Parties

    October 24, 2017 | Press Release

    WASHINGTON, D.C. -- Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), issued the following statement today following the U.S. House of Representatives vote to pass the "Stop Settlement Slush Funds Act of 2017," (H.R. 732): ...... Read More

  1. A 'Fair Deal' for Consumers? An Update on EU Consumer Attitudes Towards Collective Actions and Litigation Funding

    July 11, 2018 | Research

    As the European Commission's proposal on collective actions (known as class actions in the United States) makes its way through the European Union's legislative process, it is important to assess EU consumer opinion of the proposal and the safeguards included (and not included) in the legislation. This survey captured the views of 5,097 consumers across five EU Member States.... Read More

  2. Lighting the Way: FCA Reform and Compliance Program Credit

    June 27, 2018 | Research

    This paper contends that in order to encourage companies to create and sustain a culture of consistent compliance, particularly with regard to the federal False Claims Act, the U.S. Department of Justice should formalize a policy of offering credit for companies that implement effective compliance and ethics programs.... Read More

  3. BMS Battlegrounds: Practical Advice for Litigating Personal Jurisdiction After Bristol-Myers

    June 04, 2018 | Research

    The U.S. Supreme Court's decision last year in Bristol-Myers Squibb Co. v. Superior Court was a clear statement that the days of blatant, unchecked plaintiff forum shopping in search of outsized verdicts are at an end. ILR's research explores this paradigm shift and provides practical advice for defendants litigating BMS in the trenches.... Read More

  4. ILR Research Review - Spring 2018

    May 31, 2018 | Research

    The Spring 2018 ILR Research Review explores a wide range of long-standing and emerging issues in legislation, regulation, and litigation, including artificial intelligence and other emerging technologies, state qui tam False Claims Acts, West Virginia legal reforms, and asbestos bankruptcy trusts.... Read More

  5. Torts of the Future: Autonomous Vehicles

    May 17, 2018 | Research

    Among all emerging technologies examined in ILR's Torts of the Future research papers, autonomous vehicles (AVs) may be popping up in headlines more than any other. In order to respond to this trend in public policy and interest, and to provide a valuable tool for legislators, regulators, and businesses seeking to learn more about this topic, ILR has compiled insights from two years of research on emerging liability and regulation issues for autonomous vehicles.... Read More

  6. Torts of the Future II: Addressing the Liability and Regulatory Implications of Emerging Technologies

    April 18, 2018 | Research

    The second edition of ILR's Torts of the Future research examines evolutions in regulatory and liability trends for emerging technologies including artificial intelligence, virtual reality, wearable devices, and 3D printing. The research also presents a number of updated guiding principles to inform courts, legislators, and policymakers as they seek to address privacy and safety concerns without derailing or delaying innovation.... Read More

  7. Dubious Distribution: Asbestos Bankruptcy Trust Assets and Compensation

    March 08, 2018 | Research

    The asbestos bankruptcy trusts, created with the goal of sustainably processing and paying valid asbestos personal injury claims, are quickly being depleted. ILR's research finds that of the 35 asbestos trusts operating as of early 2008, 21 are paying an average of 40 percent less today than in 2008, putting future compensation for asbestos victims in doubt. The paper documents the causes of this rapid depletion, including the highly significant impact of attorney contingency fees.... Read More

  8. The Great Myths of State False Claims Acts

    February 28, 2018 | Research

    The 2018 update to "Great Myths of State False Claims Acts" shows that the whistleblowers' bar is continuing to capitalize on state qui tam False Claims Acts (FCAs), harvesting windfall awards from states and the federal government. The paper also points out that the dubious benefits of implementing a state FCA turn into a clear financial net negative when states allow their FCAs to fall out of compliance with federal standards.... Read More

  9. West Virginia's Climb: Lawsuit Climate Progress in the Mountain State and the Path Ahead

    January 10, 2018 | Research

    West Virginia has begun shedding its reputation for having one of the worst civil justice systems in the nation. The state's lawsuit climate ranked dead last or second to last in surveys of business executives and attorneys conducted eleven times over the past fifteen years--until 2017. This report explores the beginning of the state's encouraging transformation and highlights areas where it may continue this progress.... Read More

  10. ILR Research Review - Fall 2017

    November 30, 2017 | Research

    This special double-issue of the ILR Research Review features a wealth of insight and analysis on the world's rapidly changing litigation environment. The research contained in this issue targets exploitative litigation at home and abroad, examining numerous developments ranging from hyper-aggressive trial lawyer advertising in the U.S. to the imminent expansion of class actions in Europe.... Read More

  11. Unstable Foundation:
    Our Broken Class Action System and How to Fix It

    October 24, 2017 | Research

    Unstable Foundation examines the pervasive flaws afflicting the United States' class action system. Class actions rarely provide meaningful compensation for class members, and are poorly suited to deterring wrongful conduct.... Read More