Wall Street’s New Bet: Private Equity Dollars Fueling Multibillion-Dollar Toxic Tort Legal Battles
NEW YORK — Private equity funds are quietly powering some of the most headline-grabbing legal battles in the U.S., trading the familiar turf of Wall Street for risky but potentially lucrative courtroom confrontations. Amid increasingly complex and drawn-out lawsuits involving toxic torts, these investment firms are stepping in to fund costly litigation, betting on huge settlements and court awards. Toxic tort cases, covering damages from substances like asbestos and controversial drugs, can span decades and accrue millions in expenses. Plaintiffs’ attorneys traditionally bear these upfront costs, not receiving payment until a case concludes successfully. This … Read more