Bill Summary

by Burton

Litigation Financing Consumer Protection; Citing this act as the “Litigation Investment Safeguards and Transparency Act”; authorizing courts to consider the existence of a litigation financing agreement to determine if a class representative or lead counsel or co-lead counsel to a class action lawsuit would adequately and fairly represent the interests of the class; prohibiting specified acts by litigation financiers; requiring certain parties to a legal proceeding which have entered into a litigation financing agreement with a foreign person, a foreign principal, or a sovereign wealth fund to file and serve a notice identifying specified information with the court, agency, or tribunal and all other parties to the legal proceeding within a specified timeframe; providing for sanctions, etc. Effective Date: July 1, 2026

Committee references not assigned.