Lisa Rickard, president of the U.S. Chamber Institute for Legal Reform, speaking on stage during the 18th annual Legal Reform Summit, held at the U.S. Chamber of Commerce in Washington, on Oct. 25, 2017. Photo: Diego M. Radzinschi/ALM.
Wisconsin’s enactment of a groundbreaking law requiring disclosure of litigation funding agreements in state court was a policy win for the U.S. Chamber of Commerce, a vocal critic of the practice. But the law also came together amid a unique set of circumstances on the ground in Madison, making a national domino effect unlikely for now.
The legislation containing the disclosure requirement, AB 773, was drafted primarily with the goal of updating the rules for class actions in Wisconsin state court. Unlike many other states, Wisconsin’s statute on class actions dated back to its 19th Century “Field Code,” and was just once sentence long.
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