MANASQUAN, N.J., April 30, 2015 /PRNewswire/ -- Fair Rate Funding, a leader in TV mesh lawsuit funding, reports that Boston Scientific has agreed to settle a portion of TV Mesh product liability claims for $119 million. The information was provided in a regulatory filing and indicated the amount was set aside for 2970 cases. The Marlborough, Massachusetts-based company faces more than 25,000 mesh claims in total in U.S. federal and state courts.
Transvaginal mesh, also known as TV mesh or pelvic mesh, are medical products typically used to treat pelvic organ prolapse (POP) or stress urinary incontinence (SUI). Literally tens of thousands of patients who were implanted with the product from different manufacturers suffered complications such as bleeding, pain, inability to have sex, and infection among others. Further, reports of the product "eroding" into other organs often requires a revision surgery as a remedy.
As a result of these complications, lawsuits have been filed against multiple TV Mesh manufacturers and many have been successful in recovering damages. For example in 2013, a New Jersey jury returned an $11 million verdict against Ethicon for injuries caused by its Gynecare Prolift. Another woman also won $1.2 million in Texas state court against Johnson & Johnson. In November, Boston Scientific lost its first two federal trials, in West Virginia and Miami.
The announcement indicated that the "Company reached an agreement with certain plaintiffs' counsel" to settle a limited number of the claims and that settlement "was entered into solely by way of compromise and does not constitute an admission or concession by the Company of any liability or wrongdoing". Further, the plaintiffs' counsel entire inventory of cases is to be covered by the settlement agreement, "including a case in the District Court of Dallas County (TX) for which there is a judgment of approximately $35 million that is currently subject to appeal."
"Although certain conditions must be met, like meeting a certain level of plaintiffs who agree in the settlement, we are encouraged that these injured women are finally getting some relief," said Paul Coppola, President of Fair Rate Funding, a company which specializes in advancing cash to plaintiffs prior to settlement. "Unfortunately, there is no indication of how the remaining cases, over 20 thousand of them against Boston Scientific alone, will be resolved. For the rest of the victims, the wait continues."
Since learning of the problems caused by defective pelvic mesh, Fair Rate Funding has worked with thousands of plaintiffs in an effort to secure lawsuit funding. These funds are used to help clients pay for ordinary expenses or whatever financial matters arise. In fact, there are absolutely no restrictions on the money advanced and no upfront costs to apply.
By offering cash now to help pay for any type of expense such as car loans, rent and mortgage payments, utility payments, personal loans, and daily living expenses, Fair Rate Funding eases some of the financial stress these plaintiffs endure. There are no restrictions on the use of the funds.
Fair Rate Funding specializes in advancing cash now for plaintiffs who are involved in personal injury lawsuits including pelvic mesh. Sometimes referred to as settlement loans or lawsuit loans, settlement funding is NOT a loan transaction but a purchase of a portion of a future recovery. If the lawsuit is unsuccessful for any reason and no money is recovered, the lawsuit funding is not repaid. For answers to frequently asked TV mesh or pelvic mesh lawsuit funding questions, visit: http://www.fairratefunding.com/lawsuit-cash-advance.html
Fair Rate Funding works diligently to afford lawsuit funding to its applicants and has representatives standing by 24 hours a day, seven days a week to answer questions regarding the lawsuit funding process.
Fair Rate Funding's representatives are working around the clock to make sure each and every client gets the attention they need and to see them through to obtaining a cash advance. Fair Rate Funding is able to offer the lowest rates in the industry and makes the process as seamless as possible.
Fair Rate Funding lawsuit settlement funding programs are not a lawsuit loan or lawsuit loans although they are often referred to as such. A pre-settlement lawsuit cash advance is not a settlement loan or settlement loans because the advance is only repaid if the case is successful. Your attorney will repay your case funding or lawsuit advance ONLY if your case is won or settled.
Fair Rate Funding prides itself on providing the quickest approvals – as soon as 24 hours on most cases, the lowest monthly usage rates – as low as 2.5% per month, and the most attentive customer service in the lawsuit funding industry.
Fair Rate Funding also offers free case evaluations. If you are, at any time, not interested in pursuing lawsuit funding, there are no costs to you and absolutely no obligations.
For more information about lawsuit funding and other services from Fair Rate Funding, simply call a representative at 888-964-2224 or visit us at http://fairratefunding.com.