Actos Lawsuit News: Legal-Bay Lawsuit Settlement Funding Announces $2.2 Billion Settlement Offering by Takeda

Case Funding Firm reports that Takeda Pharmaceutical Co. is offering $2.2 billion to settle more than 8K federal and state lawsuits over its drug Actos, which would be a historic class action settlement if and when the deal is finalized, amounting to approximately $275K per case involved.

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Legal-Bay LLC

Apr 06, 2015, 05:00 ET

NEW ORLEANS, April 6, 2015 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, announced today that Takeda Pharmaceutical Co. is offering $2.2 billion to settle more than 8,000 federal and state lawsuits over Actos. If and when the deal is finalized, this would be a historic class action settlement, amounting to approximately $275K for each case involved. According to Bloomberg News, the 8K cases involved include 3,500 lawsuits in Lafayette, Louisiana before U.S. District Judge Rebecca Doherty (In Re: Actos (Pioglitazone) Products Liability Litigation, 11-md-02299, U.S. District Court, Western District of Louisiana), and 4,500 lawsuits in California, Illinois, Pennsylvania, and West Virginia, with plaintiffs alleging that Takeda hid the risks of its diabetes drug, Actos, and the possibility that it may cause cancer.

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If and when the deal is finalized, it would be a historic class action settlement, amounting to approximately $275K for each case involved. However, according to Bloomberg News, Takeda's settlement offer is only for patients who have already sued or have already hired a lawyer to file a lawsuit over Actos. The settlement came just after the recent $36.8 million award against Takeda and Lilly for a man who alleged that he developed bladder cancer after taking Actos for about five years (Allen v. Takeda Pharmaceuticals North America Inc., 12-cv-00064, U.S. District Court, Western District of Louisiana (Lafayette)).

Chris Janish, CEO of Legal-Bay, commented on Takeda's recent Actos settlement offering, "We have said from the beginning that the possibility of getting cancer from taking Actos was one of the highest concerns to a patient, and this could result in huge jury awards if plaintiffs were successful. Due to the fact that a jury originally awarded one plaintiff $9Bil., it is not surprising that settlement talks are progressing at a high settlement value or amount per average case. The Actos settlement is not finalized and we still believe that it will take into 2016 until most plaintiffs will be paid, however, Actos plaintiffs can now access funds immediately from Legal-Bay if they need a cash advance to hold them over until a settlement is finalized."

The proposed settlement, according to Bloomberg, does not include cases with plaintiffs who have not filed a lawsuit claim or have hired a lawyer. However, Legal-Bay urges patients who have developed bladder cancer while on Actos to contact them immediately to seek a free legal consultation to ascertain if they could be in-line for a large award if the settlement is approved. Time is limited to file a lawsuit claim against Actos.

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 $50K cash advance today, or with assistance in finding a qualified Actos law firm or Actos lawyer if they have not yet filed a claim. To learn more about obtaining settlement funding on your Actos case or pre-settlement funding on a pending Actos lawsuit, visit: http://lawsuitssettlementfunding.com/actos-settlement-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. For more information or assistance with finding a qualified Actos law firm or Actos lawyer, contact Legal-Bay directly 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 complications from Actos and/or would like to speak with an Actos lawyer or Actos law firm, feel free to contact Legal-Bay right now on the company's 24-hour hotline at: 877.571.0405 where live agents are available to assist you and answer any questions you may have. 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