SAN FRANCISCO—The U.S. District Court for the Northern District of California on Monday announced a new rule requiring the automatic disclosure of third-party funding agreements in proposed class-action lawsuits, walking back from an earlier proposal for broader transparency requirements.
The rule change, which was made through an amendment to the standing orders for all judges at the court, is likely to have limited ramifications for major litigation funders in the United States, including Burford Capital and Bentham IMF, which typically do not fund class-action lawsuits.
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