Credit: Akindo Studio/iStock Secrecy Or Prejudice: Panelists Debate Transparency in Litigation Financing Arrangements
One defense attorney argued that disclosure of funding agreements would allow litigants to determine how much control funders exercise, but litigation funders contend that existing ethics rules offer sufficient protections.
October 28, 2024 at 05:22 PM
6 minute read
Litigation funders faced off a skeptical member of the defense bar amid growing calls for state and federal legislation that would mandate transparency in litigation finance agreements, during a panel discussion Monday at NYU School of Law's Center on Civil Justice.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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