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.
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