​​What happened: A recent filing with the Arizona Supreme Court revealed that a company linked to a major investment firm acquired a 20% stake in personal injury law firm Esquire Law, signaling Wall Street’s growing influence in the legal market. 

Tell me more: Billboard lawyers are exploiting Arizona’s permissive rules to scale their firms like businesses, increasing advertising, case volume and profit potential.

• One billboard lawyer predicted that law firms will be publicly traded in the next 5 to 10 years. 

TLR Thoughts: Arizona’s approach shows the risk of letting Wall Street and outside investors profit from personal injury law unchecked. Without transparency and reform, this model could normalize lawsuit abuse, incentivize unnecessary treatments and put consumers at financial risk—making it critical for states like Texas to strengthen protections against predatory legal practices.

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