A group of Republican U.S. senators have reintroduced legislation that would require plaintiffs to disclose when they’ve secured third-party funding in litigation.
Sens. Chuck Grassley of Iowa, John Cornyn of Texas, Thom Tillis of North Carolina, and Ben Sasse of Nebraska reintroduced the Litigation Funding Transparency Act (LFTA) on Wednesday. The bill would require disclosure of third-party litigation funding for class actions and multidistrict litigation within 10 days of a case being filed, or 10 days after the closure of a funding deal. The bill, likewise, would require disclosure of financing to provide cash for plaintiffs.
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