Risperdal Settlement Loans an Option for Plaintiffs
After allegations involving Johnson & Johnson’s Risperdal came to light, the U.S. Department of Justice (DOJ) launched an investigation into the company and its marketing tactics. The DOJ found that J&J had illegally marketed Risperdal, a psychiatric medication, for off-label uses and that they had marketed the drug toward an inappropriate demographic. Johnson & Johnson recently agreed to an astronomical settlement of $2.2 billion, which includes civil penalties, criminal penalties, and forfeitures.
In addition to the investigation by the DOJ, Johnson & Johnson has faced dozens of lawsuits filed by patients who claimed that they experienced unexpected side effects from using the drug. In particular, the plaintiffs allege severe gynecomastia, or the enlargement of male breast tissue. Recently, 77 of these plaintiffs had reached a settlement deal with Johnson & Johnson.
However, plaintiffs may need to wait quite a while before they see compensation from the embattled drug manufacturer, which is attempting to change the terms of the deal. Should these plaintiffs decide to use Risperdal settlement loans, they can pay for their medical expenses, psychological counseling fees, and living expenses while waiting for their compensation. Unlike a traditional bank loan, a settlement loan is non-recourse.
J & J attempting to back out of Risperdal settlement
Over the course of lengthy settlement discussions, which concluded on January 28, 2013, Johnson & Johnson and the group of plaintiffs had agreed to a settlement deal. The accord involved a subsidiary of Johnson & Johnson, known as Janssen Pharmaceuticals. Although the specific terms of the settlement were not disclosed to the public, the negotiations did not involve Excerpta Medica, Inc. and Elsevier, Inc., two co-defendants.
However, Johnson & Johnson recently made attempts to change the terms of the settlement to include those co-defendants. This action prompted the lawyers for the group of 77 plaintiffs to file a Motion to Enforce Settlement on November 5, 2013. The motion requests that Judge Arnold New require the drug manufacturer to uphold the terms of the already agreed upon deal. If the settlement agreement is upheld, the specific terms of the deal may not change and the plaintiffs may still see just compensation. However, these legal maneuvers may mean that the length of time they’ll need to wait for their money has been extended.
Advantages of Risperdal settlement loans
Fortunately, plaintiffs who are awaiting compensation do have other options. In order to pay their medical expenses, pharmaceutical fees, psychological counseling expenses, and any other costs such as compensation for lost wages, plaintiffs could choose to take advantage of Risperdal settlement loans.
Lawsuit funding is more like a cash advance than a loan. It allows plaintiffs to borrow money against their settlement. Many plaintiffs can take advantage of pre settlement funding, which is a cash advance for those who are waiting for a settlement agreement to be decided upon. The 77 plaintiffs who already have a settlement agreement, yet may wait years for their compensation, can take advantage of post settlement funding.
Risperdal post settlement funding offers flexibility
Should these plaintiffs choose post settlement funding, they have the flexibility to spend the money however they wish. Plus, plaintiffs who partner with LawStreet Capital can be approved for settlement loans within 24 hours. The fast and easy application does not include employment or income verification, and no credit check is required. Most applicants can receive their money within a day of their approval.
LawStreet Capital is a reputable legal funding company; we never have hidden fees or expenses, and there is never any risk to you. Simply fill out our simple application online or call us toll-free to learn more about our settlement funding solutions.