PHILADELPHIA, Nov. 12, 2014 /PRNewswire/-- Legal-Bay LLC, the Lawsuit Settlement Funding Company, reported today that they're expecting more settlements to be announced in the upcoming months due to the large settlement Endo International Plc, owner of American Medical Systems (AMS), has agreed to pay. The company has agreed to pay nearly $1.3 billion to resolve product liability transvaginal mesh lawsuits over the implants. Endo announced that their company was adding $400 million to its $1.2 billion liability reserve for the devices which were designed to support pelvic muscles and treat incontinence. The lawsuits claim that the line of vaginal mesh implants caused injury through erosion in the vagina for some women, leaving them in pain with potential exposure to serious infection resulting in needed revision surgery.
According to Endo, they settled nearly all of the remaining U.S. lawsuits against their Perigee, Apogee, and Elevate mesh implants. While the current deal settles over 10k lawsuits, Endo had agreed to pay approximately $830 million earlier this year to settle an additional 20k suits. Both deals have average mesh settlement amounts or mesh settlement values in the $40K to $50K range, though many cases with serious complications and revision surgeries are expected to be awarded much more -as much as $400K in some cases- according to Legal-Bay's sources close to the litigation. The settlement was announced after the U.S. FDA stated the vaginal mesh inserts needed stricter safety requirements as they are high-risk devices. Endo paid $54.5 million to resolve an undisclosed number of suits of their devices in June of 2013, and now the company has agreed to pay nearly $1.3 billion to resolve the most recent settlement of lawsuits.
Patty Kirby, COO and Head of Client Relations, commented on the direction of the entire Transvaginal Mesh and Bladder Sling litigation, "We believe that AMS/Endo resolving most of their claims will now set the stage for other manufacturers to begin settling cases en masse over the next couple quarters. We believe this long and complex litigation is now beginning to wind down, and because there are so many women victims who have suffered by these high-risk devices, the FDA has deemed the need for better safety requirements. However, unfortunately for many women, even in the AMS litigation, funds will not be received until mid 2015 or beyond."
Legal-Bay stands ready to assist women victims with various lawsuit funding services if they have a lawyer already, including obtaining up to a $30K cash advance today or assistance in finding a qualified transvaginal mesh law firm or mesh lawyer if they have not filed a claim. To learn more about obtaining settlement funding on your AMS case or pre-settlement funding on a pending TVM lawsuit visit: http://lawsuitssettlementfunding.com/mesh-cases.php
Legal-Bay's funding 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.
According to Legal-Bay's legal sources close to the mesh litigation, companies like Boston Scientific, C.R. Bard, and Coloplast A/S are in deep settlement negotiations and global settlements on these cases could occur by early 2015. However, Johnson & Johnson's Ethicon division, which has 33K active lawsuit claims, continues to defend the suits vigorously.
Legal-Bay is advising women who have had transvaginal mesh or bladder sling issues and/or required a revision surgery to seek immediate legal counsel to determine if they may have a similar transvaginal mesh claim against any mesh manufacturer. The time to take action is now. To obtain lawsuit funding you must have a lawyer retained. If you need assistance finding a nationally recognized transvaginal mesh law firm or mesh lawyer, feel free to contact Legal-Bay immediately as time to file a claim could be running out as each settlement is announced. Legal-Bay's representatives can put you in touch with a mesh attorney who will provide you with a free legal consultation and you will never pay a fee unless your case is successful. Contact Legal-Bay at: http://lawsuitssettlementfunding.com/contact-us.php
If you or a loved one is in need of lawsuit pre-settlement funding or settlement funding due to a transvaginal mesh complication and/or would like to speak with a transvaginal mesh lawyer or law firm, feel free to contact Legal-Bay right now on the company's 24-hour hotline at: 877.571.0405 where live 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 case evaluation on your case at: http://lawsuitssettlementfunding.com
Legal-Bay LLC (and their related companies) 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: email@example.com
SOURCE Legal-Bay LLC