Newsom signs bill limiting investor influence in California law firms
California Governor Gavin Newsom signed legislation limiting investor influence in law firms, following similar laws in Colorado and Illinois.
California, one of the largest US legal markets, has joined Colorado and Illinois in enacting legislation to limit investor influence in law firms amid surging interest in deals that allow outside capital to fund lawyers' businesses. California Governor Gavin Newsom on Sunday signed legislation to limit investor influence in law firms, according to the source text.