Too Few Claimants Sign Up for Actos Settlement

A recent article found that too few complainants had signed on to the Actos settlement offer causing the offer to be put in jeopardy. Takeda Pharmaceuticals is obligated to fund its $2.3 billion settlement offer if 95 percent of the claimants sign on to join it. As of the publishing of the article only 75 percent of the total claimants had signed on for the deal. The deadline for claimants to sign on has been pushed back until September 11, 2015. Some are speculating that claimants may feel they can get more money based on the outcomes of 5 cases against Takeda. In one of those cases a jury awarded $9 billion to a man who claimed Actos caused his bladder cancer. The judge then reduced that amount to $36.8 million. However, Takeda has been successful in defending other Actos cases and was confident more claimants would join the settlement.

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