28 Apr, 2015, 08:36 ET
CRESSKILL, N.J., April 28, 2015 /PRNewswire/ -- RD Legal Funding, LLC ("RD Legal") continues to fund plaintiffs with judgments associated with the 1983 Beirut barracks bombing. Since 2012, RD Legal has provided non-recourse advances to plaintiffs involved with Peterson v. Iran, Davis v. Iran, Valore v. Iran, and other similar lawsuits.
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To date, RD Legal has helped approximately 400 people receive accelerated access to a portion of their pending judgments through their plaintiff settlement funding program. According to Joseph Genovesi, President of RD Legal, "our financial program is geared towards helping plaintiffs obtain expedited access to their judgment awards, which they have been waiting over 30 years to receive."
On October 23rd, 1983, 241 American servicemen tragically lost their lives in Beirut, Lebanon when two truck bombs struck buildings housing American and French military forces. In 2001, the families of the deceased American servicemen filed a civil lawsuit against the Islamic Republic of Iran. In 2007, United States District Court Judge Royce C. Lamberth ordered Iran to pay more than $2.6 billion to the survivors and family members of the deceased. Another lawsuit was filed in 2010 in New York City to force Iran to pay the $2.6 billion.
In 2012, Lamberth issued a judgment against Iran for $2.1 billion. The same year, RD Legal began funding plaintiffs involved with the litigation, and in 2014, The Wall Street Journal published an article discussing RD Legal's plaintiff funding opportunity. As quoted from the WSJ article, "a group of families . . . met with representatives of RD Legal in Washington and voted to allow the hedge fund to buy stakes in the judgment. The vote passed overwhelmingly." (source: wsj.com)
Through their settlement funding product, RD Legal advances or purchases a portion of a plaintiff's judgment claim in order to provide them with money now, instead of having to wait an uncertain amount of time for the court's distribution.
For more information about RD Legal's Beirut-Marine funding program, please call 1-800-565-5177, ext. 140 and speak to Mr. Genovesi. You can also apply online and find out more about RD Legal by visiting http://www.legalfunding.com.
SOURCE RD Legal Funding
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