98% of Lawyers Who Previously Used Litigation Funding Would Do So Again, Survey Finds
ALM Intelligence and Validity Finance have published a set of reports on the litigation finance sector. Drawn from the results of a survey conducted in early 2019, polling 330 lawyers in total, the reports provide insight into the status of litigation finance in the U.S. and examine lawyers’ perceptions of legal financing as a mechanism for promoting access to justice, risk mitigation, and profitability.
The survey results are being released in three separate reports: an overview of the complete study, along with results specific to both law firms and legal departments. Key findings in the reports include:
- 93% of law firm respondents who have used funding reported a positive experience and 98% would use it again.
- 27% of lawyers who have used funding have lingering ethical concerns, the biggest being client confidentiality and privilege.
- 70% of respondents believe litigation finance is a key disruptor in the legal industry with 50% of respondents believing funding has been used against them.
