AdvaMed Seeks Legislation on Third Party Funded Mass Tort Litigation
AdvaMed has written to the House Committee on Oversight and Accountability seeking legislation and/or regulation of outside financing used to generate profit-driven mass tort litigation over medical devices.
According to AdvaMed, “this financing ... is fueled by banks, private equity firms and hedge funds.”
In its letter, the association said that they have seen lawyer-funded and investor-backed advertising mislead patients into seeking legal action for non-faulty devices or having medical devices removed without consulting their doctor.
Read the AdvaMed letter here.
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