A push to reveal litigation funding has spread to the U.S. Senate, where new legislation has drawn a mixture of praise and criticism from plaintiff and defense attorneys.
U.S. Senate Judiciary Committee Chairman Chuck Grassley, along with Republican Sens. John Cornyn and Thom Tillis, introduced the Litigation Funding Transparency Act of 2018 on May 10. The bill would require disclosure of third-party litigation funding in class actions and multidistrict litigation within 10 days of a case filing, or 10 days after a funding deal. It would also require disclosure of financing that provides cash to plaintiffs.
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