A New York doctor last week pled guilty to performing unnecessary surgeries as part of a scheme by doctors and lawyers to obtain insurance reimbursements and other compensation from fraudulent trip-and-fall accidents, according to federal prosecutors. A litigation funding company …
Insurers are applauding a decision by the chief judge for the U.S. District Court in Delaware to require parties to disclose whether a litigation funder has an interest in any cases brought before him. The standing order issued on Monday …
A new advocate group in New York that counts the American Property Casualty Insurance Association (APCIA) as a member is looking to crack down on the practice of litigation funding. The Consumers for Fair Legal Funding (CFLF) said it is …
Litigation funding has become a $17 billion industry globally, with 52% of that money being spent in the United States, Swiss Re said in a recent report. The reinsurer said third-party litigation funding (TPLF) is increasing the number of “outsize” …
SYDNEY – Australia is considering capping fees for litigation funders and lawyers, and guaranteeing a minimum rate of return for plaintiffs, in its latest clamp down on the industry following a surge in costly class action lawsuits. Australia’s government last …
A federal appellate court dealt a blow against litigation funding companies by ruling that the U.S. Justice Department can dismiss any False Claims Act lawsuits that it deems meritless without first proving that dismissal is justified. The 7th Circuit Court …
Tesla Inc. says hedge fund Cable Car Capital LLC, which is shorting the company’s stock, is funding a former employee’s allegations that the company smeared him by accusing him of sabotage and stealing sensitive information. The carmaker said in a …
The Australian government is tightening regulatory scrutiny of wealthy litigation funders, clamping down on the industry following a surge in costly class action lawsuits. Treasurer Josh Frydenberg said on Friday that litigation funders will be required to hold an Australian …
Lawmakers in three states and in Congress have introduced bills to impose more controls on litigation funding companies, which insurers contend are one of the factors leading to an increase in “nuclear verdicts” that have pushed up claims costs and …
The range of risks facing company executives, or directors and officers (D&Os), has increased significantly in recent years along with resulting insurance claims, according to a report published by Allianz Global Corporate & Specialty (AGCS). Titled “Directors and Officers Insurance …
