Litigation Financing 'Pumps Up' Mass Tort Advertising, Litigation | Institute for Legal Reform

See - Litigation Financing 'Pumps Up' Mass Tort Advertising, Litigation | Institute for Legal Reform



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Forbes Daniel Fisher reports that “easy” litigation financing is funding aggressive plaintiff lawyer advertising that is spurring a surge in mass tort litigation — and cites ILR throughout his report.

ILR “may have their best example” that easy financing spurs more litigation “in pelvic mesh litigation, where hedge funds and specialized litigation finance firms have bankrolled a wave of television advertising and online marketing that has helped stimulate tens of thousands of lawsuits against Boston Scientific, Johnson & Johnson and others.”

$45 million worth of plaintiffs’ lawyer advertising in the first ten months of 2014, combined with telemarketing, helped generate 24,000 such lawsuits against Johnson & Johnson — including many “by women who may have not even received a J&J device."

“One firm active in the pelvic implant litigation market, Houston-based AkinMears, spent more than $25 million on television advertising last year, the most of any U.S. law firm, according to a forthcoming study by the ILR,” reports Fisher.

“Much of the money is coming from hedge funds and litigation-finance firms like Gerchen Keller, the Chicago company that an ex-employee of AkinMears says lent the law firm $90 million to advertise and acquire interests in some 14,000 pelvic-mesh lawsuits.”

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