Firm Predicts DePuy Hip Replacement Settlements Might Begin to Appear in 2013
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Two questions dog the DePuy hip recall: the recall’s costs for DePuy’s parent, Johnson & Johnson (J&J), and the amount of compensation a plaintiff can expect to receive from a hip replacement lawsuit. Undoubtedly, the recall will cost J&J billions of dollars, and every few quarters it announces a charge on its profits related to its legal costs, which frequently also include all of J&J’s other legal problems such as contaminated drugs and the Pinnacle, another metal-on-metal hip replacement device. The lawsuit settlements, though, are different because each recipient’s situation depends on varying factors, though there are common themes. Still, with billions set aside, the estimates might grow quite high.
Average Settlement around $500,000
Legal-Bay is a company that specializes in “lawsuit settlement funding,” which means it loans money to plaintiffs to tide them over until their cases either reach a verdict or settlement. In a press release, it predicts that hip replacement lawyers on both sides of the issue will know how much their cases will settle for starting in early 2013. It claims the average case will settle around $500,000, with the highest offers exceeding $1,000,000. “Our DePuy applications for lawsuit settlement funding continue to increase each month. And although the lawsuits continue to pile up, we have been advised that a settlement range could come by early 2013 on some of the DePuy cases, with final settlement payment not until late 2013,” said Legal-Bay’s head of client relations.
Talk to an RLG Lawyer before Lawsuit Lenders
When it comes to hip replacement lawsuit settlement estimates, always consider source. Like any other bank, Legal-Bay makes money off its borrowers’ future incomes. That means that if plaintiffs ultimately receive lower offers from DePuy and J&J, they must still pay the lender out of what little income they have. This doesn’t question the accuracy of Legal-Bay’s predictions; it’s possible that some plaintiffs will receive large amounts of compensation from DePuy. However, compensation depends on the number of implants received, the number of subsequent revision procedures undergone, the severity of the injury in the hip region, the extent of metal poisoning if any, and one more thing: the quality of the plaintiff’s lawyer, which is something the lawyers of the Rottenstein Law Group can claim. If you received an ASR device and believe it injured you, click on this link or call 1-877-312-3274 and a lawyer from RLG will give you a free, confidential legal consultation.