NYLR Applauds Assemblyman Ortiz’ Legislation

New Yorkers for Lawsuit Reform applauds Assemblyman Ortiz’ recent bill introduction (A.10695) which will set a new fee schedule for personal injury trial lawyers depending on the size of the judgement.  Click here to see a copy of the full NYLR news release.

This bill is an important step in helping to get monies to the victims and, in cases like the settlement of the September 11 claims, will help expedite such settlements.  A Federal Court judge recently overturned a settlement agreement in the September 11 case because it would have — among other things — provided more than $200 million to trial lawyers instead of the families of the victims and the heroes.

Oppose Lawsuit Lending!

New Yorkers for Lawsuit Reform has sent a memo of opposition to all New York State legislators opposing S.5389/A.7891.  This legislation, which purports to protect consumer interests, actually helps to protect the lawsuit lending industry and it could lead to the expansion of this dangerous — and expensive for all New Yorkers — practice.

Lawsuit lenders front money to private plaintiffs engaged in pending litigation for a percentage of any future recovery plus interest.  This practice — frowned upon since the ancient Romans — tends to increase settlement values (as plaintiffs have an incentive to “hold out” for more dollars when they realize that a large percentage of their recovery is going to end up in the hands of the lender) and prolong litigation (the interest charged on these lawsuit loans can be quite high so the longer the settlement process, the more money that the lenders make).

NYLR will be launching a grassroots campaign against this dangerous practice.  Look for more information soon.  In the meantime, click here to download the NYLR memo on the proposed legislation.

NYLR Op-Ed on Lohan Lawsuit in Legislative Gazette

New Yorkers all pay for ridiculous lawsuits like the one brought recently by Lindsay Lohan against E-Trade.  An opinion article by New Yorkers for Lawsuit Reform on that topic ran in this week’s Legislative Gazette.  Click here to take a look.

9/11Settlement Proposal Increases Calls for Lawsuit Reform

The stunning judgement initially announced for 9/11 victim families and the heroes who worked to save them which would have provided the attorneys in the case more than $200 million continues to raise ire. The proposed settlement has been denied by a Federal Judge but the issue lives on.

Today’s Daily News weighs in.

NYLR’s Quoted in Daily News Article on 9/11 Lawyers’ Fees

NYLR’s, was widely quoted in an article in Saturday’s New York Daily News (3-13-10) about the incredible fees that a group of lawyers stand to make if the proposed 9/11 settlements go through.

This is a perfect example of why New York must begin to consider lawsuit reforms to help get money like this to victims, not to the lawyers.

Analysts determine that Lawsuit Reform Will Reduce Health Care Costs

New Yorkers for Lawsuit Reform have been talking to our state’s elected leaders about ways to reduce New York’s contributions to the health care system.  Take a look at this story and you can see that a growing number of people are begining to agree.

Mayor Bloomberg Endorses Commonsense Tort Reform

On January 25, 2010, Mayor Bloomberg provided testimony in front of the joint New York State Assembly Ways and Means Committee and the Senate Finance Committee about the impact of Governor Paterson’s proposed budget on New York City.  In this testimony, he clearly endorses the concept of meaningful lawsuit reforms, some of which are actually included in the Governor’s budget proposal.

The Mayor commended the Governor’s budget on several points including, “… end a requirement that the City pay extraordinarily inflated 9 percent interest to plaintiffs on court-ordered civil judgments.  Today, no one gets 9 percent. The fairer, Treasury-bill-pegged rate the Governor proposes would save the City at least $1 million a year.”

Later in his testomony, he called on the State leaders to adopt several other initiatives including, “common sense tort reforms already on the book in many state, which would save our City more than $140 million a year in civil judgement.”

Again, we at New Yorkers for Lawsuit Reform couldn’t agree more!

We Couldn’t Agree More!

Check out this editorial from today’s Albany Times Union.  We concur that working for a firm so closely connected with the Trial Lawyers Association represents a significant problem for Senator Sampson and points to the vast influence that the trial bar has had and continues to have over New York State politics.

“Now is not the time for half measures” NYLR comments on State of the State

Mark Kriss, executive director of New Yorkers for Lawsuit Reform, provided comment on Governor Paterson’s State of the State address made earlier today.  “Now is not the time for half measures.  Governor paterson and the members of the New York State Legislature need to adopt commnsense and meaningful lawsuit reform now … before it is too late.”  See the whole statement here.

New Years Lawsuit Reform Wishes for New York State

New Yorkers for Lawsuit Reform has sent a letter to Governor Paterson and leaders of the New York State legislature asking them to take up the issue of meaningful lawsuit reform in 2010 to help revitalize our economy.  Click here to see a copy of the press release.  Here’s to a happy and more prosperous new year for everyone in 2010 and to our State’s leaders finally considering making real reforms which will expand our economy, increase job opportunities, help to balance our budget, lower taxes and make health care more affordable and accessible.