Professor Anthony Sebok was quoted in The New York Law Journal regarding third-party litigation financing, which is getting closer examination in New York, where lawmakers are pushing to regulate an industry in which companies have been accused of charging unreasonably high fees and interest rates.
"Litigation funding has been available for consumers for about two decades, though the sector hasn’t 'exploded' in use like litigation funding for corporations," Sebok said.
Sebok co-authored a comprehensive study on the litigation funding industry in which he and Ronen Avraham of Tel Aviv University and the University of Texas School of Law looked at more than 38,000 cases that were funded by a single third-party company and that proceeded to settlement and payment. They found that a majority of cases in which litigants sought third-party funding involved car accidents, while 18 percent involved premises liability or general negligence.
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