(MENAFN- PR Newswire)
Pre settlement funding company says up to $2.2 billion expected to be paid out to approximately 80,000 United States plaintiffs; however, payments will take time to distribute.
PHILADELPHIA, Nov. 6, 2024 /PRNewswire/ --
Legal-Bay LLC, the premier Pre Settlement Funding Company, reports that the ongoing legal disputes against UK Pharmaceutical company GlaxoSmithKline (GSK) regarding their heartburn medicine, Zantac, may finally be coming to a close. A recent ruling has determined a $2.2 billion payout to settle 93% of cases-approximately 80,000 plaintiffs and counting-to resolve all U.S. state court product liability cases that meet the agreed-upon conditions. GSK has also reached an agreement to pay $70 million to resolve the Zantac
Qui Tam
suit previously filed by Valisure. The arrangement is awaiting final approval from the Department of Justice.
Thousands of lawsuits have been filed against GSK,
claiming their antacid Zantac caused a greater risk of cancer in its users, stating the main ingredient Ranitidine may be a human carcinogen.
While scientific data does not yet provide dependable evidence to support cancer links, GSK felt it was in the company's fiscal interest to settle the lawsuits in order to appease shareholders rather than draw out litigation endlessly. The heartburn medication has been the target of legal filings for over five years already, and GSK has been able to settle upon both agreements while providing no admission of liability. Subsequent lawsuits are still ongoing.
Chris Janish, CEO of Legal Bay, says, "We have restarted funding Zantac cases for plaintiffs in need of cash to pay bills while they wait for final resolution of their claims.
This has been one of the most difficult litigations in a long time, and we applaud the parties for finally getting it resolved. However, due to the size of the class and final amounts still not approved, we do not expect swift settlement payments."
To apply for a cash advance lawsuit loan from your anticipated GSK Zantac lawsuit settlement, please visit the company's website HERE or call 877.571.0405.
Settlement monies are not expected to payout for another two to three years, and there is no way to estimate how much each plaintiff's case will be worth. Similar case values have been determined based on extent/amount of injuries along with the level of merit to the case. Each case is unique, and many factors go into deciding final damages. For the Zantac lawsuit payouts, plaintiffs will fall into one of three tiers:
Tier I:
Tier 1 injuries can expect payouts in the $300,000 range.
Injuries in this tier include cancers of the stomach, prostate, pancreas, or breast.
Tier II:
Tier 2 injuries can expect payouts between $80,000 and 160,000 in most cases.
Injuries in this tier include cancers of the major organs like bladder, kidney, or liver.
Tier III:
Tier 3 injuries are looking at payouts anywhere between $20,000 and $60,000.
Injuries in this tier vary greatly, but to a lesser extent than Tier I or II.
The verdicts in these lawsuits are 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. Nevertheless, Legal-Bay is one of the few legal funding companies who are providing some financial relief to Zantac lawsuit plaintiffs and their families with risk-free, non-recourse cash advance settlement loans. They have been a leader in the mass tort and Qui Tam arena for over fifteen years and have vast experience within this space. These 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 GSK Zantac 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 is one of the best lawsuit loan companies when it comes to mass tort and Qui Tam litigations, and boasts a stellar reputation within 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, Roundup, Essure, Exactech hip and knee recall, Sex Abuse cases, and more.
Legal-Bay assists plaintiffs in all other types of lawsuits including personal injury, slips and falls, car accidents, medical malpractice, wrongful death, dog bites, police brutality, sexual assault, sexual abuse, judgment or verdict on appeal, commercial litigation, contract dispute, 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, law suit 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, 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.
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