27 May 2016
Law Finance Group CEO Alan Zimmerman spoke with The Daily Journal on news that litigation funding may have played a role in Hulk Hogan’s case against Gawker:
“I don’t think any responsible funder backs a case to extract pain, and I don’t think it’s healthy for our legal system,” said Zimmerman, whose forthcoming article in the NYU Journal of Law and Business addresses the rising need for outside funding as the cost of cases skyrockets.
“That said, there are parties who use their own money to punish people economically with suits, and on the defense side in the product liability and medical malpractice spaces, you have to go hand to hand with insurance companies for years before they lay their swords down and write a check.”
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Zimmerman said the answer lies not in engaging in financial arms races to advance justice, but in reforming the system to cap costs in a way that ensures access to justice for paupers and millionaires alike.
“A lot of this has got to do with motions and court rulings that make it more expensive to pursue a claim, and in England they’ve done studies examining the cost required to win or defend against a lawsuit and introduced legislation to address that,” Zimmerman said. “But nobody here – not the Legislature, not the courts, not the attorneys – seems to be motivated to look at it.”
Law Finance Group, established by experienced attorneys more than 20 years ago, brings innovative funding solutions to the complex realities and demands of litigation in today’s civil justice system.
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