Actos Lawsuit News: Legal-Bay Lawsuit Settlement Funding Announces Takeda, Lilly Wins 99.6% Cut in Punitive Damages for Actos

Case Funding Firm reports that Takeda Pharmaceutical Co. and Eli Lilly & Co. won more than a 99% cut in a punitive damages award, reducing the award from $9 billion to $36.8 million.

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Legal-Bay LLC

Mar 19, 2015, 05:00 ET

NEW ORLEANS, March 19, 2015 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, announced today that a recent announcement was made stating that U.S. District Judge Rebecca Doherty ruled in Takeda and Lilly's favor for more than a 99% cut in the $9 billion punitive damages award, reducing it to $36.8 million. Originally, jurors in Lafayette, Louisiana found that Takeda and Lilly officials intentionally hid health risks associated with their diabetes drug, Actos, and ordered Takeda to pay $6 billion and Lilly to pay $3 billion. However, U.S. District Judge Rebecca Doherty found the $9 billion award excessive and reduced the punitive damages award more than 99% to $36.8 million, ordering Takeda to pay $27.6 million and Lilly to pay $9.2 million in punitive damages. The jurors also awarded Terrence Allen $1.5 million in compensatory damages (Allen v. Takeda Pharmaceuticals North America Inc., 12-cv-00064, U.S. District Court, Western District of Louisiana (Lafayette).). Despite Takeda and Lilly's win in the award cut, Judge Doherty denied their request for a new trial.

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The man who was awarded the $36.8 million is Terrence Allen, who alleged that after taking Actos for five years, he developed bladder cancer. Takeda currently faces over 8,000 U.S. lawsuits, and earlier this month, jurors in Philadelphia ordered Takeda to pay $2 million in damages to a woman who alleged that Actos caused her bladder cancer.

Chris Janish, CEO of Legal-Bay, commented on the recent Actos award, "Although the punitive damages award was reduced, it still shows now that two trials have gone in great favor of the plaintiffs, as the plaintiffs' lawyers have done a great job proving their case. With 8,000 active Actos lawsuits, it is hard to determine what an accurate settlement value or settlement range for these cases will be. We believe this is a litigation that can drag on, sorting through so many cases and varying degrees of injury. However, clients in need of funds can at least access funds through our lawsuit money programs."

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 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.

Legal-Bay is advising victims who have suffered with complications after using the diabetes drug, Actos, to seek immediate legal counsel to determine if they may have a potential claim against Takeda and Lilly. If you need assistance with finding a nationally recognized Actos law firm or Actos lawyer, feel free to contact Legal-Bay immediately. Legal-Bay's representatives can put you in touch with an Actos attorney who will provide you with a free legal consultation and you will never pay a fee unless your case is successful. Legal-Bay also provides funding and lawsuit help services for other drug cases, including blood thinners like Pradaxa and Xarelto and birth control or IUD cases such as Mirena, as well as other drugs not listed here. For more information or assistance with finding a qualified Xarelto law firm or Mirena law firm 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 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.