Document Type

Article

Publication Date

2012

Abstract

In our classic image of an American lawsuit, including class actions, the plaintiffs lawyer pays the upfront costs and then hopes to recoup them from a share of the winnings. But today, this picture is incomplete. It is no longer only the law firm's own war chest that finances a case - so can outside investors and lenders.2 As Judge Hellerstein has just reminded us, the 9/11 cases he presided over involved such third-party financing.3 The Ecuadorian plaintiffs' environmental case against Chevron, now pending in the Southern District of New York, is another prominent example in the news.4

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