In the News Today - March 13, 2017

March 12, 2017

Goodlatte Calls on Legal Profession To Crack Down on Trial Lawyer Drug Lawsuit Ads: U.S. House Judiciary Chairman Bob Goodlatte (R-VA) sent letters to the American Bar Association and every state bar association, urging the organizations to adopt requirements for warnings on trial lawyer advertisements that urge patients to discontinue the use of some medicines. ILR President, Lisa A. Rickard, said that “pharmaceutical ads go through careful FDA scrutiny... Ads for lawsuits against drug makers should as well. Trial lawyers have an obligation to ensure the claims in their ads don’t harm public health.” (American Pharmacy News)

Potential Impact of Class Action Bill on the Litigation Funding Industry: The House of Representatives approved a bill that would require class action attorneys to notify federal courts when a third-party litigation funder is involved in a case. If enacted, it would be the first federal measure to directly regulate the nascent litigation-funding industry in the United States. ILR’s Matt Webb said that the proposed regulation “would be a sea change in the litigation funding regulatory space.” (The National Law Journal)

Therium Becomes First Full-Service Litigation Funder in Germany: Therium Group is launching operations in Germany, making it the country’s first full-service litigation funder. The funder says it has “identified a substantial market for litigation funding in Germany, driven by the increasing number of corporate and commercial legal disputes.” (Global Legal Post)