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Finding that the arrangement did not run afoul of New York usury laws, the U.S. Court of Appeals for the Third Circuit has ruled that a litigation funder is entitled to a chunk of the proceeds from a plaintiff’s settlement of a legal malpractice lawsuit against Reed Smith.

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Zack Needles

Zack Needles is Global Managing Editor, Regional Brands at ALM. He is also the Managing Editor of The Legal Intelligencer, Pennsylvania Law Weekly, Delaware Business Court Insider and Delaware Law Weekly. Contact him at 215-557-2373 or zneedles@alm.com. On Twitter: @ZackNeedlesTLI.

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