Actos Settlement Reached: Takeda Agrees to Pay $2.3 Billion to Settle Approximately 8K Cases, Says Legal-Bay

NEW ORLEANS, May 4, 2015 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, announced today that Takeda Pharmaceutical Co. has agreed to pay approximately $2.37 billion to settle approximately 8K cases in which claimants accused the company of hiding cancer risks associated with diabetes drug, Actos. According to Bloomberg News, Takeda officials stated that if 95% of plaintiffs agree to participate in the settlement, the drug maker will put the money into a settlement fund. The settlement values would be more than $296,000 per case for plaintiffs who participate in the settlement; however, the payment may be reduced depending on age, smoking history, and toxin exposure. Also according to Bloomberg, if 97% of plaintiffs sign up, Takeda would add $300 million, raising the settlement to $2.4 billion.

According to Bloomberg News, the approximate 8K cases involved include 3,500 lawsuits in Lafayette, Louisiana before U.S. District Judge Rebecca Doherty (In Re: Actos (Pioglitazone) Products Liability Litigation, 11-md-02299, U.S. District Court, Western District of Louisiana), and about 4,500 lawsuits in California, Illinois, Pennsylvania, and West Virginia. Despite the settlement agreement, Takeda insists the benefits of Actos far outweigh the side effects, according to Drug Watch.

Chris Janish, CEO of Legal-Bay, commented on the recent Actos settlement, "We are happy to finally see a resolution to the Actos litigation, one that we have been following for a while and assisting patients with lawsuit money or finding an Actos law Firm. However, with 8,000 claims to now resolve, it is highly unlikely that any plaintiffs will see funds in 2015. Now that a firm settlement has been announced, we are able to offer both pre-settlement and settlement funding cash advances at the lowest rates in the industry for plaintiffs who need funds today."

Legal-Bay, a law cash advance company, urges victims of Actos, or their family members, to contact an Actos lawyer or Actos law firm immediately now that the settlement has been announced.

Legal-Bay stands ready to assist victims with various lawsuit funding services if they have a lawyer already, including obtaining up to a $50K cash advance today, or with assistance in finding a qualified Actos law firm or Actos lawyer if they have not yet filed a claim. To learn more about obtaining settlement funding on your Actos case or pre-settlement funding on a pending Actos lawsuit, visit: http://lawsuitssettlementfunding.com/actos-settlement-funding.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. To obtain lawsuit funding you must have retained a lawyer first. For more information or assistance with finding a qualified Actos law firm or Actos lawyer, contact Legal-Bay directly at:  http://lawsuitssettlementfunding.com/contact-us.php

If you, or a loved one, are in need of lawsuit pre-settlement funding or settlement funding due to complications from Actos and/or you would like to speak with an Actos lawyer or Actos law firm, feel free to contact Legal-Bay right now on the company's 24-hour hotline at: 877.571.0405.

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 protected]

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SOURCE Legal-Bay LLC