New Trade Group Looks to Fight Regulation: Litigation Finance

Happy Friday! A new litigation finance trade group has entered the ring.

After the heated debate over Sen. Thom Tillis’s litigation finance tax bill over the summer, many funders felt it was time to change how the industry responds to legislative threats.

Enter the American Civil Accountability Alliance. On Tuesday, lawyers Erick Robinson and Charles Silver launched the new litigation finance trade group. It joins the International Legal Finance Association, previously the sole lobbying group dedicated to litigation finance, in its fight against the US Chamber of Commerce and any insurance industry lobbyists that have been pushing for regulation.

The group will have broad membership, open to lawyers, litigants, advisers, and funders operating in the mass tort space.

Litigation funders have spent years facing the threat of state and federal regulations. Will 2026 be the year they fight back?

Bloomberg Law subscribers can get this Litigation Finance newsletter in their inbox on Fridays. Sign up here.

What I’m Reading

• The Washington state legislature is considering a House bill that would regulate litigation funding. Under HB 2255, funders would be required to register with the state and pay an annual fee. They would also be required to disclose litigation funding agreements.
• UK law firm Pogust Goodhead announced Lynn Wong as the firm’s new chief operating officer and general counsel. The firm underwent a series of leadership changes after it received $617 million in funding from Gramercy Funds Management.
• The Institute for Energy Research published commentary about the risks posed by litigation finance to the energy industry. The author writes about potential tax issues with foreign funders and notes a surge in climate change-related claims.

Business & Practice

Thompson Hine Takes Over IP Boutique for Silicon Valley Foothold

Thompson Hine absorbed nearly all lawyers and staff from intellectual property litigation firm Turner Boyd Seraphine, giving the acquirer a Silicon Valley presence less than two years after it launched in California.

Quinn Emanuel Partners Join Rare Club With $9 Million Payout

Quinn Emanuel expects to pay equity partners $9 million on average for 2025, becoming just the third large law firm to reach that profits mark.

Texas Supreme Court Takes Over Law School Accreditation From ABA

The Texas Supreme Court has ended the state’s reliance on the American Bar Association to accredit its law schools, finalizing a rule that places the state high court in charge of that certification.

Latham Tops Kirkland for M&A Crown in Year Marked by Megadeals

Latham & Watkins expects the brisk pace of deals work to continue in the new year after dethroning Kirkland & Ellis as Big Law’s top mergers and acquisitions adviser in 2025.

Sullivan & Cromwell Takes Houston Plunge With New Office

Wall Street’s Sullivan & Cromwell is preparing to open an office in Houston, the latest elite corporate law firm to target the city, according to three people familiar with the situation.

Commentary & Opinion

Don’t ‘Kill the Lawyers’ in 2026—They’re Fighting for Justice

Remember as we usher in a new year, when Americans’ rights are under attack, it’s the lawyers that are standing up to fight.

Submissions are now open for Bloomberg Law’s Leading Law Firms ranking!

Leading Law Firms began with a deceptively simple question: What makes a best-in-class law firm? Is it money? Is it headcount? Is it the same thing that propelled law firms to the top decades ago? And what will a best-in-class law firm look like a decade from now, given the entirely new set of norms—political and otherwise—the legal market is facing?

This year’s survey and ranking hold true to the core value that what we measure should evolve with how the world evolves.

Read More about how to apply.