DePuy Hip Recall Settlement News: First Federal Trial To Begin This Week - Bloomberg had reported that DePuy could be close to a $3Bil settlement before the trial, but that does not look likely at this point, says Legal-Bay Lawsuit Funding Firm.
CLEVELAND, Sept. 23, 2013 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, announced today that they believe the first DePuy Hip Recall Trial to go to court in federal court will go ahead as planned. There had been rumors from Bloomberg News, that a $3Bil settlement was in the works, however it doesn't look like that has materialized. The $3Bil DePuy settlement figure is the number that Legal-Bay had predicted about a year ago, and is consistent with the "write downs" that Johnson & Johnson (J&J), DePuy's parent, has taken on its financial statements over the last two fiscal years.
"The sentiment in the market is that DePuy is in its strongest position to settle because it is coming off of a big win in state court in IL this summer. The time to settle may never be better to wrap up the 11K or so cases now filed. However, DePuy may feel that another win in federal court could really slow the litigation down even further. The bottom line is if this case goes to court, it will be a major indication of the direction of the overall litigation. The winner of McCracken v. DePuy, in Ohio, will leave with either the plaintiffs or defendants having 2 wins to 1; and thus obtaining some leverage in settlement negotiations," said Legal-Bay CEO Chris Janish. DePuy has also settled three cases in Las Vegas, Nevada.
Legal-Bay reports that if the DePuy settlement talks are accurate, then the average DePuy settlement amounts could be close to $300K per case. However, many cases could have a much lower or higher value based on many factors involved in each specific case.
Now that the DePuy ASR recall is going on its third year, many DePuy Hip Victims are in need of a lawsuit cash advance, also referred to as a lawsuit loan by plaintiffs. Legal-Bay has been providing up to $50k in pre-settlement funding on DePuy ASR cases to plaintiffs that need cash now on their lawsuit. Legal-Bay has set up a separate web page just for its DePuy clients, where they can access more information about the DePuy litigation or their lawsuit settlement funding services at: http://lawsuitssettlementfunding.com/depuy-hip-recall-settlement-funding.php
Legal-Bay is also helping DePuy Pinnacle Hip clients with cash advances up to $25K even though the Pinnacle Hip has not been recalled as of yet – although many of the components are similar to the ASR Model. However, as the Pinnacle litigation grows, Legal-Bay urges victims to seek legal assistance immediately, especially if the patient was in need of a revision surgery due to high metal levels in the blood, known as metollosis.
If you or a loved one is in need of a cash settlement funding on your DePuy ASR or Pinnacle case or need assistance finding a DePuy Pinnacle Hip Lawyer, or DePuy Pinnacle Hip Law Firm, feel free to apply at: http://lawsuitssettlementfunding.com or by calling Legal-Bay's DePuy hot line where live agents are always available to answer any of your DePuy litigation questions at: 877.571.0405.
Contact: Patty Kirby, Head of Client Relations, Ph. 877.571.0405, email: firstname.lastname@example.org
SOURCE Legal-Bay LLC