LOS ANGELES, Nov. 6, 2014 /PRNewswire/ -- Legal-Bay LLC, the Lawsuit Settlement Funding Company, announced today that they are reconfirming that they've increased their pre-settlement and settlement funding amounts on all Pradaxa cases as a result of the recent settlement by Boehringer Ingelheim. The $650MM settlement on approximately 4,000 cases in state and federal courts was over their blood thinner, Pradaxa, in which the lawsuits alleged that Pradaxa may cause bleeding events to occur which can't be controlled and can sometimes be fatal. The Federal Pradaxa lawsuits were consolidated into multidistrict litigation in the U.S. District Court for the Southern District of Illinois under Judge David R. Herndon in August of 2012. According to legal reports, however, other consolidated state proceedings also took place in California, Connecticut, Delaware, and Missouri. Lawyers from the jurisdictions worked together in order to achieve the settlement, and despite agreeing to the settlement, Boehringer Ingelheim denied any misconduct or unlawful activity. Boehringer stated that they believed the settlement allows their company "to avoid the distraction and uncertainty of protracted litigation over years and years."
According to FDA reports, in 2011 over 500 patients died after using Pradaxa, and there were thousands of reports of serious side effects, which surpassed all other monitored drugs that year. In 2010 when Pradaxa was approved, it was the only alternative at that time to Warfarin (Coumadin). Both drugs are used to prevent blood clots and strokes, but Warfarin involves weekly exams and restrictions on diet for their patients while Pradaxa does not. On the other hand, if patients using Warfarin have a bleeding event, there is an antidote that doctors can administer to stop the bleeding, while Pradaxa and other new blood thinners do not have an antidote. However, Boehringer does claim an antidote is being developed, according to Drug Watch.
Despite the announcement of the large settlement, Legal-Bay does not believe the plaintiffs will actually receive funds until the first or possibly even the second quarter of 2015. Legal-Bay is once again announcing that they are able to provide up to $250K for plaintiffs who need a cash advance today to pay bills on their Pradaxa litigation. Within 48 hours, the lawsuit cash advance can be approved and funded directly to the plaintiff. The lawsuit cash advance can be used for any personal expenses whatsoever, including holiday spending money, and will only be paid back with accrued fees once the settlement check is received by the plaintiff's law office.
Patty Kirby, COO and Head of Client Relations, commented on the company's unwavering dedication, "We are once again announcing our commitment to aiding victims in these cases, and we want to reiterate the fact that our investors are committing larger pre-settlement and settled amounts for Pradaxa plaintiffs who need funds today prior to receiving their checks from their cases. This litigation was very serious in its nature, as many Pradaxa users resulted in fatalities. While the average settlement amount for each case filed is close to $150K, which is on the higher end for any mass tort litigation, that average could result in a much larger or lower amount for many of the plaintiffs involved depending on the circumstances. We're able to provide plaintiffs the money they need to ensure that their daily living requirements are met while they're waiting to be compensated."
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 Xarelto or family members who have had a loved one injured or deceased from their use of Pradaxa or Xarelto to contact a Pradaxa or Xarelto law firm or Pradaxa or Xarelto lawyer immediately. Legal-Bay works with nationally recognized Pradaxa and Xarelto attorneys and can assist you with obtaining a free legal consultation on your potential lawsuit claims. To request to speak with a Pradaxa or Xarelto lawyer contact Legal-Bay at: http://lawsuitssettlementfunding.com/contact-us.php
If you (or a loved one) are in need of lawsuit settlement funding due to a Pradaxa or Xarelto complication and/or would like to speak with a Pradaxa or Xarelto 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 (as well as 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: firstname.lastname@example.org
SOURCE Legal-Bay LLC