Legal Bay Reports $2.2 Billion Settlement in Zantac Lawsuits

Legal-Bay LLC, the premier Pre Settlement Funding Company, reports that the ongoing legal disputes against UK pharmaceutical company GlaxoSmithKline (GSK) regarding their heartburn medicine, Zantac, may finally be coming to a close. A recent ruling has determined a $2.2 billion payout to settle 93% of cases—approximately 80,000 plaintiffs and counting—to resolve all U.S. state court product liability cases that meet the agreed-upon conditions. GSK has also reached an agreement to pay $70 million to resolve the Zantac Qui Tam suit previously filed by Valisure. The arrangement is awaiting final approval from the Department of Justice.

Read more at MorningStar.