J&J urges court to consider role of TPLF when selecting lead counsel in talc MDL
07th Dec 2016
According to the National Law Journal, Johnson & Johnson (J&J) has asked for disclosure of third party litigation funding (TPLF) in a multidistrict litigation (MDL) over its talcum powder products. In the article, J&J’s attorney Susan Sharko expressed concern that applicants for the plaintiffs’ steering committee are being financed by TPLF.
ILR President, Lisa Rickard, is quoted saying “it is essential for the courts in the talc cases as well as other litigation to know whether outside investors or hedge funds may be influencing or controlling the plaintiffs’ case and how they may benefit from it”.
“The request highlights increasing concern among the defense bar that plaintiffs’ attorneys should disclose the use of third-party financing firms. At least one federal district, in California, has proposed a rule that would require more transparency over outside funding”, writes the National Law Journal.