Australia’s attorney general has asked a parliamentary committee to examine what he says are the “extraordinary profits” of litigation funders and whether Australians are receiving their fair share of class action settlements.
The attorney general, Christian Porter, said in a statement that the Parliamentary Joint Committee on Corporations and Financial Services will be given broad terms of reference to inquire into all aspects of the class action system, “including whether further regulation of litigation funders is needed to improve justice outcomes.”
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