This comprehensive report seeks to shine a bright light on third-party litigation funding (TPLF) - a multibillion-dollar global industry with many layers which fuels mass tort lawsuits and ultimately harms patients. The industry targets and convinces unsuspecting patients with various medical devices to participate in their lawsuit, then allows investors - which could include foreign companies or governments - to invest in these lawsuits in exchange for an amount from the potential proceeds of a settlement, judgment, or verdict obtained from the claimant's legal claim. If the lawsuit is successful, the money that was provided by investors will be awarded back to that group, with interest, paid back at the time of recovery.
The report, published by the Washington Health Innovation Council, addresses five (5) essential questions:
- What is this growing problem,
- How does it work,
- Who are the main players,
- What is the impact, and
- What are the latest federal and state policy proposals?
