Grand Canyon Times

Predatory lawsuits have emerged as a significant concern for small businesses, according to a recent announcement. It highlights the growing phenomenon of third-party lenders engaging in speculative legal actions with the hope of substantial financial gain. Such practices can be detrimental, leading small businesses into costly and prolonged legal disputes.

In response to these concerns, Senate Bill 1215 has been introduced, aiming to introduce vital transparency and accountability to litigation financing. The objective of this bill is to ensure clear disclosure regarding the funding sources behind lawsuits against small businesses and the parties likely to profit from the legal outcomes.

The legislation is set for a vote on the House floor shortly. Members of the National Federation of Independent Business (NFIB) are encouraged to contact their representatives through a provided link, advocating for the support of SB 1215.

A call to action is also extended to non-members of NFIB with an invitation to join the organization.