An 87 year old California man recently filed a product liability lawsuit against Janseen Research and Development and Bayer Healthcare after suffering serious side-effects from the use of their drug, Xarelto.
The unnamed plaintiff filed the lawsuit on October 9, 2014, in the United States District Court, Northern District of California. The plaintiff seeks compensation for severe and lasting personal injury, physical and mental pain and suffering, medical bills, and legal fees. In total, the lawsuit claims $10 million in damages.
The plaintiff was ordered by his doctor to take Xarelto, a powerful anticoagulant, in 2012. After beginning treatment with the drug, the plaintiff suffered a gastrointestinal bleed. His lawsuit claims the injuries were directly caused by his use of Xarelto.
Xarelto is one of the highest selling anti-coagulants on the multi-billion dollar market. Links between Xarelto and related medical issues are well documented. This lawsuit is far from the first to be levied against the drug manufacturers. Many plaintiffs in these cases experienced a long fight while only a slim percentage have seen any monetary relief.
Product liability lawsuit can be extremely lengthy and difficult, often taking several years to reach a conclusion and costing plaintiffs significant sums in legal fees over the course of their duration. The parent companies of the products in question are heavily invested in the defense of their assets, and will expend every possible effort to prolong the eventual payout or absolve themselves from responsibility.
But while companies like Bayer and Janseen have their own legal departments and resources to empower their legal battles, plaintiffs are far from powerless. Several legal resources exist to help plaintiffs ‘stay the course’ and realize better settlements, one of which is product liability settlement funding.
Product Liability Settlement Funding Gives Cash Now to Plaintiffs
Settlement funding, or lawsuit funding, provides plaintiffs in lawsuits with a cash advance to help them weather the financial burden of a protracted court proceeding. And as product liability settlement funding is not a traditional loan, current employment and credit history are not factors in the underwriting. Unlike a traditional loan, the only concern for a settlement funding lender is the likelihood of a successful outcome.
Securing product liability settlement funding requires no upfront fees or incremental payments. A cash advance can be made available in as little as 24-hours, once the determination has been made to provide a plaintiff with settlement funding.
And unlike traditional loans with monthly payments, the “borrower” of settlement funding is not required to pay anything until settlement is reached or judgment rendered. Should the plaintiff receive monetary compensation; the “lawsuit loan” payment is taken right out of the settlement.
Should the plaintiff lose the case, they are not required to pay anything, including the original advance amount.
For those involved in a product liability lawsuit, securing settlement funding could help to hold-out and receive a better judgment or settlement. A product liability lawsuit can be a very long and trying process; keep up the fight with product liability settlement funding.