In the News Today - September 14, 2015

September 14, 2015

ILR President Lisa A. Rickard pens a blog post about calls by U.S. Senators Grassley and Cornyn for more transparency in the third-party litigation financing industry. She writes, "Investing in lawsuits puts unconnected third parties in the middle of our legal process, and both lawmakers and the courts have an obligation to examine this industry, whose meteoric growth threatens to distort our system of justice." (ILR Blog)

Three Canadian law firms have filed a $1 billion class action lawsuit against some of the world's largest banks over currency market allegations. This class action comes the same year that ILR and the Canadian Chamber of Commerce released a joint report, Painting an Unsettling Landscape: Canadian Class Actions 2011-2014, which showed that the Canadian class action system is increasingly subject to abuse. (The Financial Post)