BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  C2C Services & Suppliers™
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

DePuy, Inc. Lawsuit Settlement Amounts Could Come In First Quarter Of 2013, Says Legal-Bay


6/6/2012 10:00:00 AM

NEW YORK, June 5, 2012 /PRNewswire/ -- Legal-Bay LLC -The Lawsuit Settlement Funding Company- has been advising their DePuy Hip Implant and Recall clients that they believe that there will be some clarity to final settlement figures by the first quarter of 2013.

Legal-Bay is a leader in the DePuy Legal Funding Industry, and has been one of the few companies assisting DePuy victims with pre-settlement funding on their lawsuits today, prior to any of the DePuy cases even settling.

Legal-Bay through its network of affiliates believes that based on the timing of the litigation that by the first quarter of 2013, J&J and the largest law firms representing DePuy victims will begin narrowing the gap as to what the actual settlement range will be. It has been projected that the settlement amounts in some cases could top $1mm, with an average settlement range to be somewhere around $500K.

To date J&J has set aside approximately $2-3Bil for the DePuy litigation, but no one knows exactly how the damages will be divided up. With close to 90K DePuy Hips being implanted and possibly 15% of those ultimately failing; this could lead to over 10K suits being filed when it is all said and done. Based on these numbers, Legal-Bay believes that Johnson & Johnson will have to set aside more money in the first quarter of 2013 for DePuy, just as it has done the last 2 years.

Patty Kirby, Head of Client Relations commented, "Our DePuy applications for lawsuit settlement funding continue to increase each month. And although the lawsuits continue to pile up, we have been advised that a settlement range could come by early 2013 on some of the DePuy cases, with final settlement payment not until late 2013."

Lawsuit settlement funding, also referred to as a lawsuit loan by plaintiffs, enables DePuy victims to receive a small portion of their DePuy funds today while they ultimately wait for their final settlement payment. Legal-Bay has a 24hour staff available to handle clients interested in applying for lawsuit funding on their toll free hotline of: 877.571.0405 or directly through their website: lawsuitssettlementfunding.com.

Contact:

Legal-Bay LLC
Patty Kirby,Head of Client Relations
Ph. 877.571.0405
Email: info@legal-bay.com

SOURCE Legal-Bay LLC


Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->