Case Funding Firm says Fresenius Medical Care has reached the substantial agreement in principle to settle claims against them in multidistrict litigation, and the settlement amount will be $250 million providing that 97% of plaintiffs agree to the settlement terms by July of 2016.
BOSTON, Feb. 18, 2016 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, announced today that in breaking news, Fresenius Medical Care has reached a $250 million agreement in principle to settle claims against them over their dialysis drugs, GranuFlo and NaturaLyte. According to sources, the settlement amount will be $250 million providing that 97% of the plaintiffs agree to the terms of the deal by July of 2016, and the funding will be provided in August of 2016.
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According to the Fresenius site, they've stated that "Insurers will fund the settlement amount with $220 million," and therefore, "the company expects a pre-tax charge of $60 million from the settlement and other costs to finalize this matter."
The GranuFlo and NaturaLyte lawsuits have been consolidated into multidistrict litigation (MDL). According to Drug Watch, more than 1,800 lawsuits were consolidated into MDL under U.S. District Judge Douglas P. Woodlock in the District of Massachusetts (In re: Fresenius GranuFlo/NaturaLyte Dialysate Litigation, MDL No. 2428).
The lawsuits against Fresenius Medical Care claim that the company knew of the danger in their products and failed to adequately warn and inform the public, and there are also allegations that they neglected to warn health care providers as well as properly train them on how to use these dialysis products safely. The lawsuits allege that Fresenius Medical Care failed to warn dialysis clinics – outside its own Fresenius clinics – of potential Alkali Dosing Errors. Claims against Fresenius Medical Care include patients who have suffered injury or death as a result of using GranuFlo and/or NaturaLyte products during hemodialysis.
Chris Janish, CEO of Legal-Bay, commented on the recent announcement, "Legal-Bay was one of the only companies in the lawsuit funding industry to fund GranuFlo cases. Our team always felt that the plaintiffs had strong claims, and today's announcement we believe is the start of resolving the cases. However, there is still a long way to go until settlements are paid, if the settlement will actually be approved. Individuals and family members who believe they may have claims against Fresenius Medical Care should contact us immediately so we can assist them with contacting a qualified GranuFlo law firm in our network."
Legal-Bay, a law cash advance company, stands ready to assist victims with various lawsuit funding services if they have a lawyer already, including obtaining up to a $30K cash advance today, or with assistance in finding a qualified GranuFlo law firm or GranuFlo lawyer if they have not yet filed a claim. To learn more about obtaining settlement funding on your GranuFlo case or pre-settlement funding on a pending GranuFlo lawsuit, visit: http://lawsuitssettlementfunding.com/granuflo-naturalyte-lawsuit-funding.php
Legal-Bay's funding 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 obtain lawsuit funding you must have retained a lawyer first.
Legal-Bay is advising victims who have suffered with complications after the use of GranuFlo and/or NaturaLyte products to seek immediate legal counsel to determine if they may have a potential claim against Fresenius Medical Care. If you need assistance with finding a nationally recognized GranuFlo law firm or GranuFlo lawyer, feel free to contact Legal-Bay immediately. Legal-Bay's representatives can put you in touch with a GranuFlo attorney who will provide you with a free legal consultation and you will never pay a fee unless your case is successful. Contact Legal-Bay at: http://lawsuitssettlementfunding.com/contact-us.php
If you, or a loved one, are in need of lawsuit pre-settlement funding or settlement funding due to a complication from GranuFlo and/or NaturaLyte products and/or would like to speak with a GranuFlo lawyer or GranuFlo law firm, feel free to contact Legal-Bay right now on the company's 24-hour hotline at: 877.571.0405.
You may also fill out an online application to receive a free case evaluation on your case at: http://lawsuitssettlementfunding.com
Legal-Bay LLC (and 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: [email protected] |
SOURCE Legal-Bay LLC
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