NEW YORK, Nov. 14, 2013 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, is reporting -via Bloomberg News- that a landmark settlement has been reached in the extensive DePuy ASR Hip Implant Litigation. According to sources, the total settlement is approximately $4Bil, which makes it the largest medical device settlement in U.S. history.
Back in September, Legal-Bay had reported that a settlement of $3Bil was on the horizon, and the average case value for a DePuy Hip requiring revision surgery would be around $300K; it looks as if these figures are pretty accurate. However, neither side is confirming the details of the reports just yet.
Legal-Bay has been assisting so many victims of the defective DePuy hip implant device since the start of the litigation in 2010, by providing them with lawsuit pre-settlement funding up to $50,000.00 on their cases. Legal-Bay will continue to provide lawsuit cash advances, not lawsuit loans, on pending and proposed settled DePuy cases. To learn more about Legal-Bay's DePuy settlement cash advance program, which is not a settlement loan, you can log on to Legal-Bay's website at: http://lawsuitssettlementfunding.com/depuy-hip-recall-settlement-funding.php
Chris Janish, CEO of Legal-Bay commented, "We always believed that this litigation was one in which J&J would have to step up to the plate, and it seems they now have, with this historic settlement. The plaintiff's lawyers did a tremendous job getting the company to agree to such a large number now; and to leave the litigation uncapped as more patient's hips fail in the upcoming years. Most importantly our long suffering clients can now get some of the relief they have long awaited for." Actual payments do not expect to be disbursed until mid-2014, according to Legal-Bay, if the Judge approves the settlement.
If you are in need of settlement funding on your DePuy case or in need of speaking to a lawyer about filing a claim on either your DePuy ASR or Pinnacle hip implant, feel free to call Legal-Bay directly at: 877.571.0405 or you may also apply online at: http://lawsuitssettlementfunding.com.