The House of Representatives on Thursday approved a bill that would require class action attorneys to notify federal courts when a third-party litigation funder is bankrolling their case. If enacted, it would be the first federal measure to directly regulate the nascent litigation-funding industry in the United States.
You might expect a lobbying blitz from an industry that twice opposed court rules aimed at disclosures and has built something of a presence in Washington. In the past, major litigation funders have turned to top-shelf lobbying firms including the Podesta Group and Wilmer Cutler Pickering Hale and Dorr.
