Louisiana Gov. Gets Bill Regulating Lawsuit Funding Business (2)

A Louisiana bill to regulate the litigation finance industry is headed to Gov. Jeff Landry’s desk for signature after clearing the state’s legislature.

The measure (SB 355) was passed unanimously by the state Senate on Friday. It would bar outside funders from controlling cases in which they invest. The bill also would require parties in lawsuits to disclose funding from “countries of concern” to the state attorney general.

“Hostile foreign nations and sovereign wealth funds associated with hostile governments will no longer interfere in our justice system,” said State Senator Jeremy Stine (R-La.) who introduced the bill.

Landry, a Republican, ...