Actos Settlement Funding Critical as Takeda to Appeal $9 Billion Actos Award

Steve Cid | April 14th, 2014

actos settlement fundingA $9 billion jury award has rocked Takeda Pharmaceutical and Eli Lilly, Takeda’s partner, in the opening bellwether trial in the Actos multidistrict litigation (MDL). The federal jury trial took place with U.S. District Judge Rebecca Doherty presiding in U.S. District Court, Western District of Louisiana in Lafayette, LA where 2,800 pending Actos lawsuits have been consolidated in the MDL.

The eye-opening punitive damages were awarded to the plaintiffs Terrence Allen and his wife, Susan Allen in a suit first filed in July 2011. Mr. Allen, a former hardware store manager in upstate New York, argued that his five year use of Actos, the diabetes drug manufactured by Takeda, caused his bladder cancer. The federal court jury agreed, first awarding Mr. Allen and wife $1.5 million for compensatory damages, and then swiftly delivering the blockbuster $9 billion punitive damages award, the largest single award in U.S. history over a drug maker’s mishandling of a product.

Unfortunately, the award is largely symbolic due to guidelines handed down by the Supreme Court, which state that punitive damages cannot exceed ten times the compensatory damages award, or in this case $15 million. However, the award even at the reduced level will forever alter the bleak economic prospects the Allens have been facing.

Court awards may take years to collect

This bellwether trial outcome may boost the spirits of the Allens and the 2,800 Actos plaintiffs who have already waited years for their turn at redemption. What is now inevitable is the time-consuming round of appeals that Takeda will mount that will further delay any life-changing compensation to the victims, many of whom, like the Allens, filed their suits years ago.

Actos settlement funding available to plaintiffs

At LawStreet Capital (LSC), one of the nation’s most prominent Actos settlement funding companies, we provide plaintiffs with risk-free cash advances while they wait for the outcome of their trials. It’s risk-free because the advance does not have to be repaid unless you win or settle your case. If you don’t collect on your lawsuit there is no further obligation, and the “non-recourse” Actos lawsuit cash advance does not need to be repaid.

You may be suffering financially from medical treatments, costs for surgery, medications, therapy, plus additional expenses for transportation or childcare. You may have lost your job and are facing foreclosure or even bankruptcy. Law Street Capital will provide you with the financial safety net needed to withstand months or years of delays while the court procedures drag on.

The financial burdens associated with extended litigation can wreak havoc on your life. Even if you win your lawsuit, you may not receive the funds for several months or even years.  If your lawsuit is pending or you’re waiting for a settlement and need cash today, consider the multiple benefits of working with LawStreet Capital, a trusted leader in Actos settlement funding. The application is free, there is no cost to you, and once approved, your pre settlement advance will be in your account within 24 hours.

If you’re ready to apply or have further questions, our customer representatives are standing by. Call us toll-free anytime at 1-866-FUND-662.