SB 670 has passed the Florida House 109-7 after clearing the State Senate last week, the Governor is expected to signed the bill into law. The bill is written to protect passive nursing home investors from negligence lawsuits.
Not shockingly, plaintiff attorneys are against the bill as many have targeted deep pocketed investors to pay increasingly catastrophic judgements. Also against the bill is a collation of nursing home employees who fear increased exposure when investors cannot be targeted.
The laws likely outcome is an attempt to bring suit outside of Florida and reopen the investors in liability. Florida had become a venue of choice for attorneys looking to go after protected investors, with 49 other states in the union venue shopping will likely pick up as plaintiffs search for sympathetic courtrooms.
Contact us to discuss creating a comprehensive risk financing program to protect your employees, investors and the organizations assets in a changing legal environment.