Parties Clash Over Plan to Buy NFL Players' Concussion Settlement Stakes
A litigation funding company is facing off in federal court against attorneys representing class counsel in the NFL concussion litigation, the Consumer Financial Protection Bureau and New York State Attorney General Eric Schneiderman over whether retired players should be able to sell their stakes in the $1 billion settlement.
October 02, 2017 at 03:56 PM
4 minute read
A litigation funding company is facing off in federal court against attorneys representing class counsel in the NFL concussion litigation, the Consumer Financial Protection Bureau and New York State Attorney General Eric Schneiderman over whether retired players should be able to sell their stakes in the $1 billion settlement.
The parties filed briefs to the U.S. District Court for the Eastern District of Pennsylvania outlining their positions on whether the retired players should be allowed to sell portions of their expected settlement proceeds in exchange for immediate cash. A federal judge in New York overseeing a related litigation referred the issue to the Eastern District in early September, after it was revealed that RD Legal Funding had contracted with seven former professional football players expected to receive benefits under the National Football League's concussion-related settlement.
Schneiderman, who sued RD Legal in federal court in New York over its funding practices, said the Eastern District should void any agreements that RD Legal entered into with former players.
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