Settlement Loans Available for Mirena MDL Plaintiffs
Hundreds of women have filed lawsuits against Bayer Pharmaceuticals alleging severe complications from the Mirena IUD. Mirena is a small, flexible, T-shaped intrauterine device that a healthcare provider can insert into a patient’s uterus to prevent unintended pregnancy on a long-term basis. IUDs have become increasingly popular in the U.S. in recent years because they are perceived as a convenient option for busy moms. However, the FDA has received more than 70,000 adverse event reports regarding Mirena.
As of October 2015, there are 1,153 cases pending in a multidistrict litigation (MDL) against Bayer. This consolidated legal action is proceeding in the U.S. District Court for the Southern District of New York under District Judge Cathy Seibel.
Additional Mirena lawsuits are pending in a New Jersey state court before Judge Brian Martinotti. Filing a product liability lawsuit may help some plaintiffs recover compensation for their losses, which may include surgery to remove the IUD, other medical expenses, pharmaceutical costs, and ongoing medical care needs. However, it can take years for litigation to resolve and quite often plaintiffs require compensation sooner, rather than later.
Some plaintiffs with pending claims may benefit from settlement loans, which is a form of legal funding.
What is legal funding?
Legal funding, or lawsuit funding, is a means of providing plaintiffs with the money they need while waiting for a settlement or jury award. It’s a common misconception that settlement loans are essentially identical to traditional bank or credit union loans.
In fact, settlement loans and other forms of legal funding are non-recourse. This means that if the outcome of the lawsuit is not favorable for the plaintiff, the funds never need to be repaid. Essentially, it’s risk-free money. If the case resolves with a settlement or jury award for the plaintiff, the plaintiff repays the cash advance at a competitive rate.
How can plaintiffs benefit from settlement loans?
Many plaintiffs whose cases are pending in the MDL face significant medical problems as an alleged result of the Mirena IUD. Plaintiffs commonly claim that the device spontaneously migrated through the uterine wall and into other bodily structures, necessitating surgical removal and leading to severe complications such as scar tissue accumulation and infections. Some women report ongoing, severe pain that significantly reduced quality of life. In addition to their medical expenses, plaintiffs typically demand compensation for their lost wages, loss of future earning capacity, pain and suffering, and emotional anguish.
Settlement loans can help Mirena plaintiffs take care of their families while their lawsuits are pending. The cash advance may be used for any type of expense – from legal fees to medical bills to mortgage payments. The money can help keep plaintiffs stay afloat financially, which may prevent the possibility that plaintiffs will feel pressured into agreeing to a premature settlement for less than what they deserve.
LawStreet Capital provides financial assistance
LawStreet Capital has long been a leader in the legal funding industry, with some of the most competitive interest rates available. If you’ve filed a Mirena lawsuit and you’re in need of financial assistance while you wait for resolution, we invite you to contact one of our friendly representatives at 1-866-FUND-662. Once approved, your Mirena lawsuit cash can be in your account in as few as 24 hours.