SAN FRANCISCO, June 18, 2015 /PRNewswire/ -- Legal-Bay LLC, the Lawsuit Settlement Funding Company, announced today that they are increasing their pre-settlement and settlement funding amounts on all Pradaxa and Actos cases based on the recent settlements by Actos manufacturer Takeda Pharmaceutical Co. and Pradaxa manufacturer Boehringer Ingelheim. Boehringer Ingelheim announced their $650MM settlement on all of their 4,000 cases in state and federal courts over the blood thinner, Pradaxa, resulting in approximately $150K average settlement awards. The Federal Pradaxa lawsuits were consolidated into multidistrict litigation in August of 2012 in the U.S. District Court for the Southern District of Illinois under Judge David R. Herndon (MDL 2385). However, according to legal reports, other consolidated state proceedings also took place in California, Connecticut, Delaware, and Missouri. Lawyers from the jurisdictions worked together to achieve the settlement. Boehringer Ingelheim, despite agreeing to the settlement, denied any wrongdoing, stating they believed the settlement allows their company "to avoid the distraction and uncertainty of protracted litigation over years and years."
Takeda Pharmaceutical Co. agreed to pay $2.37 billion to settle approximately 8,000 federal and state lawsuits over its drug Actos. The 8K cases include 3,500 lawsuits in Lafayette, Louisiana before U.S. District Judge Rebecca Doherty (MDL 2299; U.S. District Court, Western District of Louisiana), and about 4,500 suits in California, Pennsylvania, Illinois, and West Virginia, according to Bloomberg News. The claimants alleged that Takeda hid the bladder cancer risks of the diabetes drug, however, according to Drug Watch, Takeda insists that the benefits of Actos far outweigh the side effects. Takeda officials announced that they will put the money into a settlement fund if 95% of plaintiffs agree to participate in the settlement; and if 97% of the plaintiffs sign up, the drug maker would add an additional $300 million, raising the settlement to $2.4 billion, according to Bloomberg News. Settlement awards would be more than $296,000 per case for plaintiffs who choose to participate in the settlement, but settlement amounts may be reduced depending on certain factors such as age, smoking history, and toxin exposure.
Patty Kirby, COO and Head of Client Relations, commented on the company's dedication to funding Pradaxa and Actos cases, "Our company is one of the few companies in the industry that puts a strong focus on settled case funding and can provide the lowest rates industry wide, regardless of the size of the advance request. In most mass tort cases, although the settlement is announced, it could take up to a year to get actual funds."
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 urges users of Pradaxa or Actos or family members who have had a loved one injured or deceased from their use of Pradaxa or Actos to contact a Pradaxa or Actos law firm or lawyer immediately, to possibly claim an award with a settlement value or range listed above. Legal-Bay works with nationally recognized Pradaxa and Actos attorneys and can assist you with obtaining a free legal consultation on your potential lawsuit claim against Boehringer Ingelheim or Takeda Pharmaceutical Co. To request to speak with a Pradaxa or Actos 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 Pradaxa or Actos complications and would like to speak with a Pradaxa or Actos lawyer or Pradaxa or Actos law firm, feel free to contact Legal-Bay on the company's 24-hour hotline at: 877.571.0405.
You may also fill out an online application to receive a free evaluation on your case at: http://lawsuitssettlementfunding.com
Legal-Bay LLC 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.
Patty Kirby, COO/Head of Client Relations
Ph. 877.571.0405 Email: email@example.com
SOURCE Legal-Bay LLC