Japan gets all the good stuff first, and per that tradition it's being reported that a Japanese live-action Lost Judgment TV series is in the works.
The news was first reported by Japanese publication Nikkan Gendai, but it was translated and shared by Kotaku. According to the unconfirmed report, the Lost Judgment TV series will star Takuya Kimura, who played Lost Judgment protagonist Takayuki Yagami in both Judgment games. Another source from the same report suggests a movie adaptation could also be in the works.
If confirmed, the Lost Judgment TV show would be produced for Asahi Television and as such likely wouldn't air outside of Japan. At best, it becomes massively popular and demands a subtitled version for western audiences, but don't get your hopes up just yet.
Again, nothing's been announced yet, but the series' unofficial title is reportedly Sabakarezaru, which translates to The Unjudged, a reference to Lost Judgment's full Japanese title: Lost Judgment: Unjudged Memory. The plot seems to involve Yagami investigating a high school bullying incident that lead to a suicide, ultimately involving bribery, politicians, and yakuza. If you've played any of the Yakuza or Judgment games, this vague plot description checks out with series history.
Sega's Judgment series is a spinoff of the Yakuza franchise and stars a jaded detective and former defense attorney with a troubled past. The setting, gameplay, and story will likely be familiar to Yakuza fans, just with the exception of the main character being a badass detective instead of a badass but good-hearted yakuza.