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Some Thoughts About Plaintiffs’ Due Diligence
August 15, 2013
The lack of a vibrant reputation market means that Plaintiffs should do significant due diligence on any potential funder. Plaintiffs need to attempt to assess: a) the funder’s financial capacity to make good on its funding promises, as funders do not face capital requirements the way insurers do; b) the funder’s relationship with litigation counsel and any conflict of interest it might create or exacerbate; c) whether any conflicts of interest exist between the funder’s investors...
August 15, 2013
The lack of a vibrant reputation market means that Plaintiffs should do significant due diligence on any potential funder. Plaintiffs need to attempt to assess: a) the funder’s financial capacity to make good on its funding promises, as funders do not face capital requirements the way insurers do; b) the funder’s relationship with litigation counsel and any conflict of interest it might create or exacerbate; c) whether any conflicts of interest exist between the funder’s investors...
Attorneys Suspended Nine Months for Influencing Client’s Story
August 15, 2013
Two attorneys received nine-month suspensions after admitting to influencing their client’s version of events and pursuing a fraudulent suit for over a year. In the Matter of Rios. ABA Section of Litigation leaders explain that this case from the New York Appellate Division, First Department, sends a strong message to lawyers: Ensure that a solid factual underpinning exists before taking on new cases, and do not manipulate the facts to create a legal basis for the case. New Firm Opens Its Doors About...
August 15, 2013
Two attorneys received nine-month suspensions after admitting to influencing their client’s version of events and pursuing a fraudulent suit for over a year. In the Matter of Rios. ABA Section of Litigation leaders explain that this case from the New York Appellate Division, First Department, sends a strong message to lawyers: Ensure that a solid factual underpinning exists before taking on new cases, and do not manipulate the facts to create a legal basis for the case. New Firm Opens Its Doors About...
Aligning Incentives By Requiring Plaintiff To Shoulder Part Of The Costs
August 15, 2013
Last week I had the pleasure of attending a vibrant, comparative conference titled, simply, Commercial Litigation Funding Conference hosted by Windsor Law and organized by Prof. Jasminka Kalajdzic. One of the speakers, Ralph Sutton, the Chief Investment Officer of Bantham Capital (a subsidiary of IMF (Australia)), described a mechanism for aligning incentives quite different than the one suggested in the model contract. Sutton suggested requiring the plaintiff to remain responsible for a percentage...
August 15, 2013
Last week I had the pleasure of attending a vibrant, comparative conference titled, simply, Commercial Litigation Funding Conference hosted by Windsor Law and organized by Prof. Jasminka Kalajdzic. One of the speakers, Ralph Sutton, the Chief Investment Officer of Bantham Capital (a subsidiary of IMF (Australia)), described a mechanism for aligning incentives quite different than the one suggested in the model contract. Sutton suggested requiring the plaintiff to remain responsible for a percentage...
Legal sector adds 2,800 jobs in July
August 14, 2013
Based on last Friday's report from the Bureau of Labor Statistics courtesy of the AmLaw Daily. There's more encouraging news, relatively speaking, in that the BLS revised the figures from May and June to reflect fewer legal sector job losses than originally estimated - 2,100 instead of 2,900 and 2,700 instead of 3,600, respectively. The AmLaw Daily further reports that since April, when the legal sector employed 1.129 million people - the highest number total since 2009 - it has suffered...
August 14, 2013
Based on last Friday's report from the Bureau of Labor Statistics courtesy of the AmLaw Daily. There's more encouraging news, relatively speaking, in that the BLS revised the figures from May and June to reflect fewer legal sector job losses than originally estimated - 2,100 instead of 2,900 and 2,700 instead of 3,600, respectively. The AmLaw Daily further reports that since April, when the legal sector employed 1.129 million people - the highest number total since 2009 - it has suffered...
5th Anniversary of Blogging and Net Neutrality Still Unclear
August 14, 2013
On August 1, 2008 I started this blog with a discussion about a proposed Net Neutrality law pending in Congress which did not pass, but in 2012 the FCC (Federal Communications Commission) established its Net Neutrality rules called “Preserving the Open Internet, Broadband Industry Practices.” Last year Google announced it would offer its Fiber service in Kansas City, however the ToS (Terms of Service) included a provision that users should not host any type of server. In September 2012...
August 14, 2013
On August 1, 2008 I started this blog with a discussion about a proposed Net Neutrality law pending in Congress which did not pass, but in 2012 the FCC (Federal Communications Commission) established its Net Neutrality rules called “Preserving the Open Internet, Broadband Industry Practices.” Last year Google announced it would offer its Fiber service in Kansas City, however the ToS (Terms of Service) included a provision that users should not host any type of server. In September 2012...
Video Presentation – Projecting the Negotiation Process
August 14, 2013
Don Philbin demonstrates Picture It Settled® - a groundbreaking advancement in predictive analytics technology designed to more accurately project outcomes in the process of negotiation and alternative dispute resolution. Watch full presentation (11 min 24 sec)
August 14, 2013
Don Philbin demonstrates Picture It Settled® - a groundbreaking advancement in predictive analytics technology designed to more accurately project outcomes in the process of negotiation and alternative dispute resolution. Watch full presentation (11 min 24 sec)
FINRA Proposes E-Discovery Changes to its Discovery Guide for Customer Cases
August 14, 2013
The Financial Industry Regulatory Authority — better known as FINRA — has proposed changes to its Discovery Guide for customer cases that are designed to provide parties and arbitrators with greater guidance for handling e-discovery in securities arbitrations. The changes must be approved by the U.S. Securities and Exchange Commission. The proposed amendments would encourage parties to discuss the form in which they intend to produce documents and, whenever possible, to agree to the form...
August 14, 2013
The Financial Industry Regulatory Authority — better known as FINRA — has proposed changes to its Discovery Guide for customer cases that are designed to provide parties and arbitrators with greater guidance for handling e-discovery in securities arbitrations. The changes must be approved by the U.S. Securities and Exchange Commission. The proposed amendments would encourage parties to discuss the form in which they intend to produce documents and, whenever possible, to agree to the form...
Picture It Settled®’s Winning Presentation “Moneyball for Negotiation” Now Available on Video
August 14, 2013
Picture It Settled®'s Winning Presentation "Moneyball for Negotiation" Now Available on Video President Don Philbin's talk...
August 14, 2013
Picture It Settled®'s Winning Presentation "Moneyball for Negotiation" Now Available on Video President Don Philbin's talk...
Supreme Court Closes Class Action Loophole
August 14, 2013
The United States Supreme Court attempted to close the door on litigants doing an end-run around the Class Action Fairness Act (CAFA) requirement that certain class actions be filed in federal court. Some plaintiffs attempted to file class actions subject to CAFA in more favorable state court venues. The Supreme Court attempts to end this practice but its ruling may give rise to more litigation over remand and removal. Standard Fire v. Knowles. Creative Avoidance of Federal Jurisdiction CAFA...
August 14, 2013
The United States Supreme Court attempted to close the door on litigants doing an end-run around the Class Action Fairness Act (CAFA) requirement that certain class actions be filed in federal court. Some plaintiffs attempted to file class actions subject to CAFA in more favorable state court venues. The Supreme Court attempts to end this practice but its ruling may give rise to more litigation over remand and removal. Standard Fire v. Knowles. Creative Avoidance of Federal Jurisdiction CAFA...
Proposed Amendments to Federal Rules of Civil Procedure to be Published for Public Comment
August 14, 2013
At its June meeting, the Committee on Rules of Practice and Procedure (“The Standing Committee”) unanimously approved for publication and public comment proposed amendments to the Federal Rules of Civil Procedure. The proposed amendments would affect rules 1, 4, 16, 26, 30, 31, 33, 34, 36, and 37. A proposed change to Rule 84 (namely, its abrogation) may also be published for public comment. Many of the amendments are quite far reaching and would have a substantial impact, particularly...
August 14, 2013
At its June meeting, the Committee on Rules of Practice and Procedure (“The Standing Committee”) unanimously approved for publication and public comment proposed amendments to the Federal Rules of Civil Procedure. The proposed amendments would affect rules 1, 4, 16, 26, 30, 31, 33, 34, 36, and 37. A proposed change to Rule 84 (namely, its abrogation) may also be published for public comment. Many of the amendments are quite far reaching and would have a substantial impact, particularly...
