Wall St. cashing in on NYC’s legal feeding frenzy (New York Post)

New York Post, December 4, 2018

Wall St. cashing in on NYC’s legal feeding frenzy

“Wall Street hedge funds are cashing in on New York’s legal feeding frenzy by financing ‘mass tort litigation’ over prescription drugs and medical devices in exchange for a piece of the action when the cases settle, the ‘Judicial Hellholes’ report reveals. The result is an ‘unfair playing field for defendants,’ the report says….The situation led the New York City Bar Association to issue a formal ethics opinion in July, barring lawyers from cutting funding deals with non-lawyers. That edict, intended ‘to protect the lawyer’s independence of judgment,’ followed a New York Times report on a boom in litigation financing by hedge funds.”

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