PHILADELPHIA, June 3, 2015 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, reported today the most up-to-date news on the ongoing hip litigations and the major hip settlements that have been reached by several major manufacturers. The manufacturers include BioMet, DePuy, Stryker, and Wright. While several high settlements have been reached, certain hip litigations are still ongoing and pending resolution. The following news are the most up-to-date information on each litigation:
- BioMet: In February of 2014, Biomet reached a $56 million settlement relating to its BioMet M2a 38 and M2a Magnum hip replacement system. Settlement awards were about $200K per case that required a revision surgery. The multidistrict litigation (MDL) took place in the U.S. District Court for the Northern District of Indiana (MDL No. 2391).
- Johnson & Johnson/DePuy ASR and Pinnacle Hips: Johnson & Johnson's DePuy hip division reached the largest product liability lawsuit settlement in U.S. history in late 2013. The company agreed to settle about 7K hip lawsuits for approximately $250K per case. The multidistrict litigation took place in the U.S. District Court for the Northern District of Ohio under Judge David A. Katz (MDL No. 2197). When the ASR litigation is completely resolved, it could cost DePuy almost $4 billion, according to Bloomberg News. However, there is still time for additional ASR claims to be filed as there are approximately 25% of pending cases. The Pinnacle hip litigation remains unresolved, with more than 6,500 pending claims in the U.S. District Court for the Northern District of Texas under Judge Ed Kinkeade (MDL No. 2244). Bellwether trials are set to take place this year.
- Stryker Corporation: Stryker Corporation has agreed to pay $1.43 billion to settle thousands of hip implant lawsuits relating to the Stryker Rejuvenate and ABG II Hip Implant. The settlement was announced in November of 2014, both in the Bergen County courthouse before Superior Court Judge Brian Martinotti and in the U.S. District Court in St. Paul, Minnesota (MDL No. 2441). Settlement awards are expected to be in amounts of $10K to $600K, depending on the severity of the complications.
- Wright Medical Technology, Inc.: Approximately 800 claims had already been filed by 2014 relating to Wright Medical Technology, Inc.'s Conserve and Profemur hip replacements. According to Drug Watch, more than 70 cases were pending in a multidistrict litigation in the U.S. District Court in the Northern District of Georgia (MDL No. 2329). Bellwether trials are set to take place this year.
Patty Kirby, COO and Head of Client Relations of Legal-Bay, commented on the recent settlements, "We continue to monitor each litigation, not only the pending ones, but the ones that have settled. We have noticed many clients are still waiting for funds on their settled cases, and we are able to provide exceptional pricing for clients who need funds right now, whether on pre-settled or settled deals. Additionally, we are still advising clients who have not retained a law firm that they need to move quickly in order to claim a hip recall award if they have not contacted a lawyer."
To apply for lawsuit funding or lawsuit money today on your hip case, apply online at: http://lawsuitssettlementfunding.com/stryker-wright-hip-recall-settlement-funding.php
Legal-Bay, a law cash advance company, advises any patients who have suffered complications or metallosis from a hip implant to contact a hip lawyer or hip law firm immediately as the time to file a complaint is limited. Legal-Bay can assist you with obtaining a free legal consultation with a hip lawyer or hip law firm. You can inquire directly with us at: http://lawsuitssettlementfunding.com/contact-us.php
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 lawsuit funding process, visit: http://www.lawsuitssettlementfunding.com/funding-process.php
If you wish to speak to a live agent who can answer any of your lawsuit funding questions, or if you would like to schedule a free consultation with a hip lawyer, call Legal-Bay's toll-free hotline at: 877.571.0405.
Legal-Bay LLC (as well as their related companies) is not a law firm and cannot provide legal advice on your case, however, Legal-Bay works with lawyers involved in mass tort litigations who can provide you with a free legal consultation at the consumer's direction.
Patty Kirby, COO/Head of Client Relations
Ph. 877.571.0405 Email: email@example.com
SOURCE Legal-Bay LLC