After Wisconsin became the first state to pass a law requiring disclosure of third party litigation funding, D&O Diary’s Kevin LaCroix said the “time has come” for debate.
LaCroix said “questions about litigation funding continue to arise” as the practice becomes more prominent, particularly on the issue of disclosure. He pointed to the Northern District of California’s decision last year to require disclosure in class actions and ILR’s petition currently before the Advisory Committee on Rules of Civil Procedure on federal disclosure as examples of such questions. Now that the issue is before policymakers, he said it’s time “for a debate.”
Wisconsin Gov. Scott Walker signed the law this week. LaCroix quotes U.S. Chamber Institute for Legal Reform President Lisa A. Rickard, who hopes “other states will follow suit” on the “groundbreaking” law.