On September 28, 2016, Los Angeles Investment Manager David Gallagher took part in a 1.5 hour Continuing Legal Education (“CLE”) seminar titled ‘Litigation Financing – Practical and Ethical Issues for Antitrust, Unfair Competition, and Complex Litigation’ hosted by the Antitrust & Unfair Business Practices Section of the Los Angeles County Bar Association (“LACBA”). The panel was moderated by David Kesselman, Partner at Kesselman Brantly Stockinger LLP, and included additional panel participants Amy Bomse, Partner at Arnold & Porter, and Jonathan Weiss, Partner at Kirkland & Ellis.
This all-star panel delved into a detailed discussion of the ethical rules a practitioner must be mindful of when utilizing or exploring the use of litigation funding. Panelists deliberated about the following California Rules of Professional Conduct: Rule 1-320, Financial Arrangements with Non-Lawyers; Rule 3-100, Confidential Information of a Client; Rule 3-110, Failing to Act Competently; Rule 3-300, Avoiding Interests Adverse to a Client; Rule 3-210, Avoiding the Representation of Adverse Interests; and Rule 4-210, Payment of Personal or Business Expenses Incurred by or for a Client. In addition, panelists conferred on the applicability of privilege doctrines to communications exchanged with a funder and touched on the debate surrounding the proposed revision of the N.D. Cal. Civil Local Rule 3-15 (Disclosure of Non-party Interested Entities or Persons). Relevant case law relating to whether litigation funding in California is champertous or usurious was also reviewed.
If you missed out on this CLE panel discussion, LACBA will make this seminar available online in the near future.