SAN FRANCISCO, Oct. 8, 2014 /PRNewswire/ -- Legal-Bay LLC, the Lawsuit Settlement Funding Company, announced today that they are increasing their pre-settlement and settlement funding amounts on all Pradaxa cases based on the recent settlement by German manufacturer, Boehringer Ingelheim, on all of their 4,000 cases in state and federal courts over the blood thinner. According to Drug Watch, the lawsuits alleged that Pradaxa may cause bleeding events to occur which cannot be controlled and are sometimes fatal. In 2011 alone, according to FDA reports, over 500 patients lost their lives after using Pradaxa and thousands more people reported serious side effects, exceeding all of the other monitored drugs for the year.
Pradaxa was approved in 2010 and was the only alternative at that time to warfarin (widely known as Coumadin). Both anticoagulant drugs are used to prevent blood clots and strokes, but warfarin requires weekly exams and dietary restrictions while Pradaxa does not. However, if warfarin patients have a bleeding event, there is an antidote to stop the bleeding which doctors can administer, while there is no such antidote for Pradaxa and other new blood thinners. According to Drug Watch, Boehringer claims an antidote is being developed. The Federal Pradaxa lawsuits were consolidated into multidistrict litigation in August of 2012 in the U.S. District Court for the Southern District of Illinois under Judge David R. Herndon. However, according to legal reports, other consolidated state proceedings also took place in California, Connecticut, Delaware, and Missouri. Lawyers from the jurisdictions worked together to achieve the settlement. Boehringer Ingelheim, despite agreeing to the settlement, denied any wrongdoing, stating they believed the settlement allows their company "to avoid the distraction and uncertainty of protracted litigation over years and years."
Patty Kirby, COO and Head of Client Relations, commented on the recent settlement, "Clearly this litigation was a very serious one, whereas many users resulted in fatalities. The $150K average settlement amount for all cases currently filed is on the high side for any mass tort litigation, however, many plaintiffs will receive much larger or considerably lower amounts. With clarity on the Pradaxa settlement range, our investors are committing larger pre-settlement and settled amounts for Pradaxa plaintiffs who need funds today before receiving their ultimate checks."
Although the settlement has been announced, Legal-Bay does not believe plaintiffs will actually get funds until the first or even second quarter of 2015. Legal-Bay is able to provide up to $250K for plaintiffs who need a cash advance today to pay bills on their Pradaxa litigation. The lawsuit cash advance can be approved within 48 hours and will be paid back with accrued fees once the settlement check is received by the plaintiff's law office. Legal-Bay's programs are non-recourse lawsuit cash advances, also known as case funding. None of the programs should be considered to be a settlement loan, settlement loans, lawsuit loan, lawsuit loans, pre-settlement loans, or a pre-settlement loan. To learn more about Legal Bay's Pradaxa lawsuit cash advance programs visit: http://lawsuitssettlementfunding.com/pradaxa-settlement-funding.php
Legal-Bay is also urging users of Pradaxa or family members who have had a loved one injured or deceased from their use of Pradaxa to contact a Pradaxa law firm or Pradaxa lawyer immediately. Legal-Bay works with nationally recognized Pradaxa attorneys and can assist you with obtaining a free legal consultation on your potential lawsuit claim against Boehringer Ingelheim. To request to speak with a Pradaxa lawyer contact Legal-Bay at: http://lawsuitssettlementfunding.com/contact-us.php
If you or a loved one is in need of a lawsuit settlement funding due to a Pradaxa complication and/or would like to speak with a Pradaxa lawyer or law firm, feel free to contact Legal-Bay on the company's 24-hour hotline at: 877.571.0405 where live free agents are available to assist you and answer any questions you may have. You may also fill out an online application to receive a free evaluation on your case at: http://lawsuitssettlementfunding.com
Legal-Bay LLC is not a law firm and cannot provide legal advice on a consumer's case, however, Legal-Bay works with lawyers involved in mass tort litigations who can provide a free legal consultation at the consumer's direction.
Contact: Patty Kirby, COO/Head of Client Relations
Ph. 877.571.0405 Email: firstname.lastname@example.org
SOURCE Legal-Bay LLC