Liability Minute Blog
The Liability Minute blog is a resource provided by ISBA Mutual, offering concise and insightful updates on emerging legal issues. This platform keeps legal professionals informed about the latest developments and trends in liability law, helping them navigate complex legal landscapes with ease. Each minute-long segment distills critical information into a digestible format, ensuring that practitioners stay current and well-equipped to address evolving legal challenges.
Litigation Financing Transparency Act: Illinois Curbs Third-Party Lawsuit Investments
The Litigation Financing Transparency Act is Illinois' answer to a rapidly growing and largely unregulated industry. Outside investors, not parties to a lawsuit, lend money to plaintiffs to cover legal costs. In return, they collect a share of any recovery. The practice now underwrites tens of thousands of cases annually against pharmaceutical companies, tech firms, food producers, and other large defendants. Illinois courts are no exception.