J&J seemingly starts to limit financial exposure in various talcum powder litigations throughout the country on the heels of recent decision by a federal judge to certify a shareholder class action dispute to allow shareholders to sue for securities fraud for concealing information about the possible dangers of cancer.
TRENTON, N.J., Jan. 22, 2024 /PRNewswire/ — Legal-Bay, The Pre Settlement Funding Company, announced today that Johnson & Johnson has agreed to a $700MM settlement with various state regulators across the country. J&J has agreed to over $300MM above the $400MM that the company had reserved for this particular case. This first major settlement comes in conjunction with a dispute with its own shareholders, including a large fund in San Diego that determined J&J’s concealment is tantamount to securities fraud – an opinion which a New Jersey Judge recently certified.
J&J is also facing over 60,000 cases from the general population at large who claim the product has caused ovarian cancer and mesothelioma. J&J attempted a bankruptcy filing and a $9 billion offering to resolve that litigation, but the amount was rejected as unlawful. The proposal by J&J would essentially provide the average settlement amount of each talc case to be approximately $150K per—a figure woefully short considering the severity of the victims’ injuries.
Chris Janish, CEO of Legal-Bay commented, “It seems as though the first major wave of J&J settlements has begun in the United States. J&J just has too many battles on its hands between plaintiffs, shareholders, and state regulators, and all of their pathetic attempts to avoid payouts—including a ‘Hail Mary’ plea to congress—have basically failed. This is a long process, one in which Legal-Bay believes should start to wrap up in 2024, as J&J is running out of legal strategies. They are facing mounting losses in not only the courtroom, but the court of public opinion.”
To get an immediate cash advance lawsuit loan from your anticipated Johnson & Johnson talc baby powder lawsuit settlement, please visit the company’s website HERE or call 877.571.0405
U.S. District Judge Quraishi of Trenton, New Jersey, permitted shareholders to proceed with their claims as a group. The class action case (#18-01833) accuses the company of intentionally and fraudulently hiding the fact that its baby powder contained cancer-causing levels of asbestos. (J&J denies the accusations, insisting that their product has always been safe—yet it should be noted that they halted sales of talc-based powder last year in favor of a newly-formulated corn starch version instead.)
Legal Bay has written extensively about the numerous verdicts handed down to the many victims who’ve incurred harm to their health due to Johnson and Johnson’s reckless disregard for public safety. According to the plaintiffs’ claims, their talc-based baby powder has been directly found to cause ovarian cancer and/or mesothelioma, and the company has long been aware of the health risks associated with their product. Several studies dating back to the 1970s concluded that talc particles increase a person’s chances of developing serious medical issues, and evidence suggests that J&J has been intentionally concealing the results for decades.
Apparently, the courts and juries agree. Recent verdicts have gone overwhelmingly in favor of plaintiffs—with stratospheric payouts attached to them—leading J&J to find itself in hot water with its shareholders as the stock has plummeted at times. And that’s even before the billions upon billions of dollars the pharmaceutical giant will be expected to pay out in damages.
If you require an immediate cash advance lawsuit loan from your anticipated Johnson & Johnson talc baby powder lawsuit settlement, please visit the company’s website HERE or call 877.571.0405
Legal-Bay’s experts close to the case believe the final settlement figure for the talc litigation will be close to $15 billion dollars, or about $250K average settlement value per case. However, the 8-year litigation could take at least another 2-3 years for plaintiffs to get any funds. Tragic, considering that due to the nature of the damages, many of the plaintiffs are in rapidly declining health or have already passed away.
Legal-Bay is one of the few legal funding companies who are providing some financial relief to victims and their families with risk-free, non-recourse cash advance settlement loans.
Legal-Bay is one of the best lawsuit loan companies when it comes to mass tort litigations, and is currently the #1 talc funding company in the loan settlement industry. They also offer lawsuit funding for other class action cases such as Round Up, Essure, Juul e-Cigarettes, Hernia Mesh, IVC Filters, and Exactech hip and knee recalls.
If you’re a lawyer or plaintiff involved in an active lawsuit of any kind and need an immediate cash advance against an impending lawsuit settlement, please visit Legal-Bay HERE or call toll-free at 877.571.0405.
Legal-Bay offers cash settlement funding and lawsuit loans for all Johnson & Johnson talcum powder lawsuits, however, Legal-Bay handles all other types of cases including personal injury, construction accidents, medical malpractice, wrongful termination or imprisonment, slips and falls, car, boat, or construction accidents, police brutality, sexual assault, dog bites, and more.
Their 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, and one of the best lawsuit loan companies overall for their 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.
SOURCE Legal-Bay, LLC
Originally published at https://www.prnewswire.com/news-releases/legal-bay-pre-settlement-funding-reports-johnson–johnson-talc-powder-settlement-of-700mm-with-40-states-nationwide-302039711.html
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