Veteran litigator Jordan Goldstein has been honored as a “Trailblazer” in litigation by The American Lawyer. Goldstein was recognized for his participation in the New York City Bar’s Litigation Funding Working Group, where he chairs the Subcommittee on Disclosure.
In 2020, the Working Group released a 90-page report detailing, among other points, proposed best practices for funding. “Besides making recommendations for changes to the ethical rules to more clearly permit litigation funding, the Working Group also addressed whether, and to what extent, litigation funding arrangements should be disclosed to courts, arbitrators, and adversaries," Goldstein told The American Lawyer. "Given the preeminence of the New York legal market, we hope this report will serve as a resource to courts, members of the Bar, and legislators as they consider how best to address litigation funding."
According to Goldstein, the litigation funding market is likely to continue expanding, especially as investors have already begun to view it as a distinct asset class.
"With this growth comes the need to ensure that clients are protected while at the same time affording them the resources to level the playing field with deep-pocketed adversaries. We believe that the best practices we are developing in New York will provide guidance to other states that are confronting these issues.”