Rule 7.1 Disclosure Statement

by Practical Law Litigation

A sample disclosure statement filed by a party or intervenor in a federal civil lawsuit under Rule 7.1 of the Federal Rules of Civil Procedure (FRCP) disclosing the nongovernmental corporate party's parent corporations and any publicly held corporation owning 10% or more of the party's stock and, if the action invokes the court's diversity jurisdiction, the citizenship of every individual or entity whose citizenship is attributed to the party or intervenor. This Standard Document provides model language for a disclosure filed by a party or intervenor in a federal civil lawsuit under Rule 7.1 of the Federal Rules of Civil Procedure (FRCP). It addresses disclosures by a nongovernmental corporate party of its parent corporations and any publicly held corporation owning 10% or more of its stock. This Standard Document also covers the required citizenship disclosures for every party and intervenor in an action invoking the court's diversity jurisdiction under 28 U.S.C. § 1332. It explains the purpose of these statements, which include assisting judges in identifying potential financial conflicts for recusal and ensuring subject matter jurisdiction exists. The included drafting notes provide essential guidance on navigating these requirements for different entities, such as corporations, partnerships, and limited liability companies (LLCs), and highlight that local rules may impose additional obligations.