Dave Kole, CEO of Lawsuitssettlementfunding.com, spoke about the recent developments, "most of our clients tell us the same thing, they are frustrated with the process. They are confused because there has been no news in the marketplace about how much they will receive, or worse, when they will actually receive their money. Many of them were notified that they would have answers by the end of the first quarter, but now that we are in April, they simply can't wait any longer. I only expect more and more Avandia Plaintiffs to seek lawsuit funding each day this drags on."
Industry experts believe that the Avandia litigation is getting more complex based on the few articles released of late.
In January GlaxoSmithKline agreed to take a total of a $3.4bil charge on the expected Avandia settlement. This is an increase from the $2.4bil charge announced last summer. The increase raises more questions as to the magnitude of the total settlement; and if Avandia will surpass Vioxx as the largest Pharmaceutical settlement in U.S. History.
Also, in February the Louisiana AG Office sued GlaxoSmithKline for civil fraud involving Avandia. The increase in more litigation involving Avandia –and the subsequent delays- is now only hurting the people most affected by the drug. And that is the Avandia long suffering plaintiffs and their families waiting for their settlement money.