How an Actos Settlement Loan Can Assist Plaintiffs

Whitney Taylor | May 1st, 2014

Actos Settlement LoanA $9 billion jury award in a recent Actos lawsuit may be one of the largest awards in U.S. history.  The decision came after the jury determined Actos manufacturer Takeda failed to properly warn consumers and the medical community about potential cancer risks associated with their drug.

Although the decision is good news to others who have been injured by the diabetes drug, it may still be some time before this plaintiff or others with similar complaints actually see a portion of their compensation. For some, an Actos settlement loan may be the best choice to help pay bills until litigation resolves.

Actos and bladder cancer

The plaintiff in this lawsuit, Terrence Allen, states in his complaint he took Actos as prescribed by his physician for five years before he was diagnosed with bladder cancer in 2011. Allen alleges that although Takeda knew of potential dangers linked to the drug for a number of years after Actos was on the market, they failed to provide sufficient warning about the bladder cancer risk until 2011. Allen’s bladder cancer was successfully treated after two surgeries, but the plaintiff claims he will continue to be monitored for the rest of his life due to the high recurrence rate of this type of cancer.

Although the jury ruled in Allen’s favor, lawyers on both sides and other legal experts agree it is unlikely the judge overseeing the case will enforce the large award amount. The jury awarded $1.475 million in compensatory damages, which are awarded to compensate a plaintiff for medical expenses, lost wages and other non-economic losses. The rest of the award was punitive damages, which are awarded to punish a company for improper conduct.

The Supreme Court has set a precedent for jury awards, which recommends punitive damages are proportionate to compensatory damages in terms of amount. The amounts here are not in proportion, so most involved in the case believe the amount of punitive damages will be significantly decreased by the judge. Historically, all jury awards of large amounts like this have either been reduced or thrown out.

About Actos

Actos is a drug prescribed to help manage type II diabetes. The drug works by making the body more sensitive to insulin. The drug was introduced to the U.S. market by Takeda in 1999 and has generated more than $16 billion for the company since that time. Takeda partnered with Lilly from 1999 to 2006 to market the drug to U.S. consumers and the medical community. Lilly is also listed as a defendant on this recent Actos lawsuit, as well as many others.

Hundreds who were injured by the drug, or lost loved ones to Actos-related bladder cancer, have now filed lawsuits against Takeda and Lilly. These victims may be facing financial hardship due to mounting medical bills and lost wages while they battle cancer or care for a loved one who received a cancer diagnosis. Even if the cancer is successfully treated, individuals face a lifetime of medical monitoring and treatment due to a high risk of the cancer returning.

Actos lawsuit cash advance for plaintiffs

If this is your current situation, an Actos settlement loan may provide the financial assistance you need to wait out the legal process. At Lawstreet Capital, we provide non-recourse loans to plaintiffs waiting for the litigation process to move forward, based on the expected jury award or future settlement. An Actos lawsuit cash advance gets you the money you need now to pay medical bills and other expenses while your case works its way through the court system.

At Lawstreet Capital, our application process is quick and easy and approval can be made nearly right away. Once the cash advance is approved, money can be wired into your account within 24 hours. No payments are due until your case reaches a positive jury verdict or settlement.

If no money is recovered in your case, you are not responsible for paying back the lawsuit funding. To learn more about our settlement loan application process, contact one of our representatives at 866-FUND-662 today.