According to anonymous sources, Coloplast has agreed to settle about 400 lawsuits to the tune of approximately $16 million.The announcement of this transvaginal mesh settlement may mean that some plaintiffs won’t require a lawsuit loan to stay afloat while waiting out the litigation process.

However, there are still many more plaintiffs who have filed complaints against the Denmark-based medical device company. At last check, multidistrict litigation (MDL) No. 2387 had a total of 1,397 cases and only 54 of them were listed as being closed.

Hundreds more plaintiffs must wait the outcome of additional settlement negotiations or trial proceedings before seeing any money for their lawsuits.

Some may opt for a transvaginal mesh settlement loan

The MDL, a type of mass litigation, is proceeding in the U.S. District Court for the Southern District of West Virginia before the Honorable Judge Joseph R. Goodwin. Although MDLs are formed for the purposes of improving efficiency, it can still take months or even years for a plaintiff’s case to be resolved. Even after a transvaginal mesh settlement is agreed to, plaintiffs may still be forced to wait for their money.

In the meantime, plaintiffs are likely to face enormous financial pressure. They likely have extensive medical bills due to the alleged defective nature of their medical devices, and they may face additional surgeries or ongoing rehabilitative care needs. Many plaintiffs who file lawsuits because of defective medical devices are unable to work to support their families. While they await settlement money, bills still pile up.

While this option may not be ideal for everyone, some plaintiffs find a lawsuit settlement loan to be a great help to them while they await the resolution of their case. Unlike a traditional bank loan, a settlement loan for a transvaginal mesh lawsuit or other type of complaint is non-recourse. In the event that the plaintiff loses the case, the loan does not need to be repaid, so there is never any risk.

Thousands of plaintiffs still awaiting settlements

The transvaginal mesh devices are surgically implanted for the purpose of supporting a woman’s internal organs. However, they have been linked to dangerous complications, including erosion of the device, organ damage, and significant pain. Although hundreds of plaintiffs are still awaiting word of a possible settlement deal, the prospect of a larger resolution seems likely.

One lawyer for Coloplast expressed her optimism that offers made to five other groups of plaintiffs would result in a favorable resolution. Coloplast’s attorney went on to note that the company was eagerly anticipating settlement agreements, which would enable them to move forward from the litigation. However, Coloplast is also facing additional lawsuits filed in other courts.

Rather than seeking a blanket resolution agreement, the strategy of the defendants was to settle certain inventories of plaintiffs represented by certain law firms.

Despite this good news for hundreds of plaintiffs, thousands more are still awaiting word of a transvaginal mesh settlement. Other manufacturers of transvaginal mesh devices are facing litigation efforts, including Bard, Endo, and Boston Scientific. There is a possibility that officials from these three companies are working toward a global resolution of cases; however, this has yet to be made official.

Obtaining transvaginal mesh lawsuit funding

In the meantime, plaintiffs who have filed transvaginal mesh lawsuits must face significant financial burdens – paying medical bills, supporting their families, and dealing with the loss of earning capacity due to disability. For many plaintiffs, a settlement loan can provide the relief they need to stay afloat while they await their settlement money.

LawStreet Capital, a direct lender, assumes all the risk of a settlement loan, which means that transvaginal mesh plaintiffs never need to repay the loan if they do not win or settle their case.

LawStreet Capital is among the most reputable of lawsuit loan companies, with friendly experts on hand to answer all of your questions. As soon as you’re approved, you could have cash in as little as 24 hours. To learn more about lawsuit funding, call LawStreet Capital toll-free at 1.866.FUND.662.