LAS VEGAS, Sept. 12, 2012 /PRNewswire/ -- Legal-Bay, The Lawsuit Settlement Funding Company, announced today that their DePuy Hip Implant Recall clients are outraged at the Bloomberg Report that the first Bellwether cases in Nevada have been settled for only $200K each. Many industry experts were pegging the case values at well north of $200K and potentially north of $500K. However, the Bellwether trials were set to gauge what a jury would feel the damages would be – and usually that is a chance for the plaintiffs to be awarded numbers that are substantially higher than the actual real value.
Legal-Bay reported that a Transvaginal Mesh Bellwether Lawsuit in Bakersfield, California awarded a plaintiff $5.5mm from a sympathetic jury. However, the fact that the DePuy plaintiffs and the lawyers didn't go the trial route would normally signal a very high settlement figure. If the DePuy and Johnson & Johnson Bloomberg report is accurate than that is the complete polar opposite of what industry experts expected, says Legal-Bay. Legal-Bay has been an industry leader in lawsuit settlement funding –also referred to as lawsuit loans by plaintiffs- for both DePuy and Transvaginal Mesh Cases. Legal-Bay has reported that they believe the value of these two separate cases are approximately $500K each, the DePuy settlement now casts serious doubts on that.
"Our clients are unhappy that the plaintiffs would accept this type of low settlement amount when their hip injuries are worth substantially more. Many of them have indicated that they would rather opt for trial than allowing DePuy to walk away paying so little by way of settlement," says Patty Kirby, Head of Client Relations at Legal-Bay.
Many industry experts are skeptical about the actual settlement amounts and await an official disclosure hearing from the courts in the near future. Regardless, Legal-Bay believes that both the Transvaginal and DePuy Litigations will begin to settle in 2013. Plaintiffs in need of lawsuit settlement funding, surgical expense funding, or an attorney referral for either the Transvaginal Mesh or DePuy litigation can contact Legal-Bay 24 hours a day at: lawsuitssettlementfunding.com or by phone at 877.571.0405.
Patty Kirby, Head of Client Relations
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