Pre settlement funding company says plaintiffs expected to
approve bankruptcy plan next month, ending the decades-long case
and dismissing all open motions by J&J to attempt to dismiss
almost 60K claims.
NEW
BRUNSWICK, N.J., June 27,
2024 /PRNewswire/ -- Legal-Bay LLC, the premier
Pre Settlement Funding Company, reports that the multiple,
years-long legal disputes against Johnson & Johnson regarding
their talc-based baby powder may finally be coming to a close. A
bankruptcy filing has enabled an expedited plan to be enacted,
allowing for a $6.475 billion payout
to almost 60,000 plaintiffs. Johnson & Johnson's talc baby
powder has been the target of legal filings for decades, and
J&J has made numerous efforts to obfuscate the proceedings
every step of the way in order to avoid paying damages to the
victims.
Just last month, the New
Jersey-based company devised a plan to move forward with the
multi-billion-dollar settlement offer for the tens of thousands of
ovarian cancer lawsuits they'd been facing, itself already a
diminished amount from the $8.9BB
that was proposed just one year ago. However, Johnson & Johnson
scored a win when the judge reconsidered scientific evidence
regarding the cancer links, which ultimately gave the
pharmaceutical giant leverage in settlement negotiations.
The plaintiffs' law firm recognized the risk of J&J
prevailing on new evidence that might show their product did
not directly cause cancer, and are now recommending their
clients accept the proposed settlement along with the terms that go
with it.
Victims have waited a long time for major damages to be awarded
but due to size of the class will now only receive small amounts of
money for the serious medical issues they've been battling.
Settlement values and ranges are expecting to be between
$50k to $150k for each of the almost 60,000 claims. It
will still take a couple of years to flesh through all the lawsuits
and resolve all the payouts, but the process will be much smoother
from here on out now that there are no more cases to be heard, says
Legal-Bay, a company which has been an expert in mass tort
litigation funding for over 15 years.
Chris Janish, CEO of Legal Bay,
says, "Our sources close to the J&J talc litigation have told
us that the case should be wrapped up in principle by the deadline
of July 26th, although nothing is
guaranteed. After eight-plus years of litigation, we believe this
is the best outcome for all. Clearly, J&J prevailed by spending
much less than possible exposure if the case went through
traditional courts instead of through federal bankruptcy court.
However, there comes a time when the class of plaintiffs is so
large that cooler heads must prevail, and everyone must compromise.
We hope for all parties involved that this is the case in the next
month or so when the bankruptcy plan is ultimately approved."
Legal-Bay has monitored this litigation from its inception
and is evaluating all cases on a case-by-case basis based on this
breaking news. To apply for a cash advance lawsuit loan from your
anticipated Johnson & Johnson talc baby powder lawsuit
settlement, please visit the company's website HERE or call
877.571.0405.
The settlement alleges that J&J knowingly
deceived customers regarding the safety of their talc baby powder
products. The ruling states that Johnson & Johnson will cease
manufacturing and distribution of all tainted product and remove
existing product from sale, and replace the dangerous talc
ingredient with a cornstarch-based formula.
Several studies dating back to the 1970s concluded that talc
particles increase a woman's risk of ovarian cancer, and court
documents have revealed that J&J knew its talc contained
asbestos as early as the 1950s. However, despite the settlement,
J&J continues to stand by the safety of their product, and
denies that asbestos was ever an ingredient used in its
manufacturing. They have vehemently defended themselves against
such claims, stating confidently that they have prevailed in 95% of
the ovarian cancer lawsuits up until now. With this latest
settlement development, the New
Jersey-based company hopes to close out their legal troubles
once and for all. And J&J's most iconic brand baby powder
product now lives on.
While the majority of lawsuits brought against Johnson &
Johnson in the Baby Powder Talc cases are due to plaintiffs dealing
with ovarian cancer, there are a multitude of victims who have
suffered mesothelioma as well. Many of the mesothelioma cases have
already settled as well. However, the verdicts and now the
award amounts in the ovarian cancer lawsuit are going to be wildly
inconsistent and entirely unpredictable, and Legal Bay says there
are no guarantees of award amounts nor time frames for payouts just
based on the sheer number of claims to process.
Legal-Bay is one of the few legal funding companies who are
providing some financial relief to talcum powder lawsuit plaintiffs
and their families with risk-free, non-recourse cash advance
settlement loans. They have been a leader in the mass tort arena
for over fifteen years and have vast experience within this space.
Mass tort litigations are complex, and Legal Bay has the knowledge
and understanding to help plaintiffs navigate the complicated
waters of the legal system.
If you're a plaintiff in an active Johnson & Johnson
talcum powder lawsuit or another product liability mass tort
litigation and need an immediate cash advance from your anticipated
settlement, please visit the company's website HERE or call
877.571.0405 where agents are standing by to hear about your
specific case.
Legal-Bay is one of the best lawsuit loan companies when it
comes to mass tort litigations, and is currently the #1 talc
funding company in the industry. Legal-Bay assists plaintiffs in
all types of class action and mass tort lawsuits, including: Round
Up, JUUL e-cigarettes, Hernia Mesh, IVC Filters, Essure, Exactech
hip and knee recall, and more.
Legal-Bay assists plaintiffs in all other types of lawsuits,
including personal injury, slips and falls, car, boat, or
construction accidents, medical malpractice, wrongful death, dog
bites, police brutality, sexual assault, sexual abuse, judgment or
verdict on appeal, commercial litigation, contract dispute, Qui-tam
or whistleblower cases, False Claims Act, patent litigation,
copyright infringement, and more.
Legal-Bay's loan for settlement funding programs are designed to
provide immediate cash in advance of a plaintiff's anticipated
monetary award. While it's common to refer to these legal funding
requests as settlement loans, loans for settlements, lawsuit loans,
loans for lawsuits, etc., the "lawsuit loan" funds are, in fact,
non-recourse. That means there's no risk when it comes to loans in
lawsuit settlements because there is no obligation to repay the
money if the recipient loses their case. Therefore, terms like
settlement loan, loans for lawsuit, loans on settlement, or lawsuit
loan funds don't necessarily apply, as the "loan on lawsuit" isn't
really a loan at all, but rather a stress-free cash advance.
Legal-Bay is known to many as the best lawsuit funding provider
in the industry for their helpful and knowledgeable staff, and one
of the best lawsuit loan companies overall for their low rates and
quick turnaround, sometimes within 24-48 hours once all documents
have been received.
To apply right now for a loan settlement program, please visit
the company's website HERE or call toll-free at:
877.571.0405 where agents are standing by to answer any
questions.
Contact:
|
Chris Janish,
CEO
|
|
Email:
info@Legal-Bay.com
|
|
Ph.:
877.571.0405
|
|
Website:
www.Legal-Bay.com
|
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SOURCE Legal-Bay, LLC