Legal-Bay, The Pre Settlement Funding Company, announced today that they expect a global settlement to be reached in the landmark Johnson & Johnson Baby Powder Talc cases. It will be one of the largest mass tort settlements in U.S. history, costing J&J over $10 billion to resolve over 100,000 claims.
Plaintiffs allege that J&J talc-based baby powder is directly responsible for causing their ovarian cancer, and point out that the company has long been aware of the health risks associated with their product. Several studies dating back to the 1970s concluded that talc particles increase a woman’s chances of developing serious medical issues, and evidence suggests that J&J has been intentionally concealing the results for decades.
J&J has attempted to settle the cases via bankruptcy filing and a $9BB payout; however, plaintiffs’ lawyers believe that this is woefully insufficient compensation for the damage their product has inflicted, leaving the average settlement amount at less than $200k per plaintiff.
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Last week, Federal Judge Michael Kaplan put a hold on all trials as he examines Johnson & Johnson’s second bankruptcy filing. Claimants are not only challenging J&J’s strategy, but asking the U.S. Justice Department to investigate the pharmaceutical giant for improperly using the bankruptcy code. With the legal rhetoric now at a fever pitch, Judge Kaplan has requested the parties head to mediation to work out their differences.
Chris Janish, CEO of Legal-Bay, said, “Our sources close to the litigation have indicated that although a settlement is not imminent at this time; they believe decisive action toward a compromise could be taken by the end of this year. Typically, a fair transaction is when all parties walks away a little disappointed. Therefore, while we predict that J&J will come up on their nine-billion-dollar offer, it will still be well short of the settlement values plaintiffs feel they deserve for their devastating injuries.”
If you’re a plaintiff in an active Johnson & Johnson talcum powder lawsuit 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 reports that the average settlement value for a case at $9B would be less than $100K. If J&J were to raise their offer, these figures could push the awards closer to $200K per average case, which would be a rather large award considering that 100K total claims are expected to be filed.
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 is also funding Round Up cases, Essure, Juul e-Cigarettes, Hernia Mesh, IVC Filters, and Exactech hip and knee recall cases.
Legal-Bay assists plaintiffs in all other types of lawsuits, including personal injury, slips and falls, car, boat, or construction accidents, medical malpractice, dog bites, police brutality, sexual assault, judgment or verdict on appeal, commercial litigation, contract dispute, Qui-tam or whistleblower cases, False Claims Act, patent litigation, copyright infringement, and more.
Their lawsuit funding programs are designed to provide immediate cash in advance of a plaintiff’s anticipated monetary award. The non-recourse law suit loans—sometimes referred to as loans for lawsuit or loans on settlement—are risk-free, as the money doesn’t need to be repaid should the recipient lose their case. Therefore, the lawsuit loan isn’t really a loan, but rather a cash advance.
To apply, please visit the company’s website HERE or call toll-free at: 877.571.0405 where agents are available to answer your questions.
