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Legal-Bay Lawsuit Funding Announces Increased Commitment to Product Liability Funding

May 7, 2024

Legal-Bay Lawsuit Funding Announces Increased Commitment to Product Liability Funding

Legal-Bay LLC, The Lawsuit Pre Settlement Funding Company, announced today their newfound focus on product liability claims for plaintiffs and lawyers involved in ongoing mass tort litigations. Due to increasing product liability lawsuit loan requests, Legal-Bay has committed more capital to secure even more specialized lawsuit funding for the law firms and plaintiffs out there with product liability cases due to their complex and time-consuming nature.

Legal-Bay’s knowledge of product liability lawsuits and experience with mass tort litigations for various products and defective products makes them the leading lawsuit funding firm to call for a complex product defect case involving defective products or product rejection. This experience, as well as Legal-Bay’s overall capital, gives them the reputation of the best lawsuit funding firm that exists today.

The lawsuit loan company’s team of experts studies each national litigation, often leading the legal funding industry on which cases to begin funding. Many other lawsuit loan companies and lawsuit cash advance places and loan companies do not fund these types of cases due to the complex and time-consuming nature. However, this is just part of why Legal-Bay remains so committed to helping people who have suffered as a result of a defective surgical product or medical device gone wrong, including those that migrate in the body or cause other long-term damage.

If you are wondering what to do when a large corporation will fight your case or if a large corporation or company is fighting your claim, don’t hesitate to contact Legal-Bay today. To learn more about product liability lawsuit funding, product liability lawsuit claim loans, product liability lawsuit money, or defective product settlement funding amounts, please visit our new product liability funding site, at: https://lawsuitssettlementfunding.com/product-liability.php 

Currently, Legal-Bay is expanding their product liability wing as they review various product liability cases and product liability class action suits with national law firms for legal funding options.

Below is a list of just some of the product liability mass tort cases that Legal-Bay’s team is actively monitoring or has funded in the past:

  • IVC Filter
  • Hernia Mesh
  • Exactech Implant Recall
  • Hip Implants
  • Knee Implants
  • CPAP Recall
  • Birth Control
  • JUUL E-Cigarettes
  • J&J Talc Products
  • Round Up Weed Killer
  • Medical Devices
  • 3M Ear Plugs
  • Paraquat
  • Just For Men Hair Products
  • Chemical Hair Straightener Products
  • Essure Birth Control IUD
  • Permanent Makeup Claim
  • Eyebrow Tint Claim
  • Essure Birth Control IUD
  • Allergen or Saline or Silicone Breast Implants

Legal-Bay is currently reviewing and assessing case worth or proposed settlement amounts for many other bad products or defective products not listed above.

Chris Janish, CEO commented on today’s announcement, “Legal-Bay has been built on product liability funding.  We are the leading and best mass tort funding company in the country, in my sincere opinion.  We work with the top lawyers on each specific litigation, and see cases and litigations from start to finish.  We are a guiding light for many victims who may need guidance on a product liability attorney to choose, and funding for surgical needs due to defective product or legal funding just to pay bills.  We do it all and take substantial risk—unlike most other litigation finance companies—to help our clients and law firms alike.” 

To learn more, or to receive a free case evaluation on your bad product claim or defective product suit claim, or if you are looking for a product liability lawyer or product liability law firm please visit Legal-Bay’s new website built for these types of claims at: https://lawsuitssettlementfunding.com/product-liability.php 

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Consumer

Nonprofit Milestone Foundation Forms Advisory Council to Champion ‘Simple Interest’ Litigation Funding

By John Freund |

The Milestone Foundation, a western New York nonprofit that bills itself as the country's only organization dedicated to litigation funding for plaintiffs, has assembled a new advisory council to advance its mission and promote a funding model built on simple, non-compounding interest rates. The move marks an effort to position nonprofit funding as an alternative to the high-cost consumer products that have drawn regulatory scrutiny.

As reported by Law.com, the Buffalo-based foundation unveiled a multi-disciplinary council spanning the full litigation ecosystem, drawing together professionals from across the plaintiff, finance, and legal services landscape to guide its work and broaden its reach.

Founded in 2016 by John and Amy Bair, the Milestone Foundation operates as a 501(c)(3) nonprofit and offers pre-settlement funding at 15% simple interest and post-settlement funding at 10% simple interest, with interest that never compounds. Like commercial consumer legal funding, its advances are non-recourse, meaning plaintiffs owe nothing if their case is unsuccessful. The foundation says it has provided more than $6 million in funding to over 900 plaintiffs in partnership with more than 320 law firms nationwide.

The council's formation comes amid intensifying debate over how consumer legal funding should be priced and regulated, exemplified by recent state legislation such as the Kansas Transparency in Consumer Legal Funding Act. By emphasizing transparent, simple-interest terms, the foundation is staking out a distinct position in a market often criticized for opaque and compounding charges, offering a model that supporters argue better aligns funding costs with plaintiffs' interests.

Consumer

Illinois Moves to Restrict Private Equity and Hedge Fund Control of Law Firms

By John Freund |

Illinois has joined a growing list of states moving to rein in non-lawyer ownership and control of law firms, advancing legislation that restricts the influence of private equity, hedge funds, and outside investors over legal practice. The measure reflects mounting concern that capital-driven ownership structures, closely related to litigation finance, could compromise attorney independence.

As reported by Crain's Chicago Business, House Bill 5487 places new limits on alternative business structures (ABS) and management services organizations (MSOs). The bill prohibits non-lawyers and outside investors from interfering with attorneys' professional judgment, accessing client records, hiring or firing lawyers, or charging fees tied to a firm's revenues or profits. Firms must also disclose any MSO or ABS arrangement to their clients.

Rather than banning the structures outright, the legislation significantly curtails non-lawyer involvement in firm operations and decision-making. The bill drew an unusual coalition, with both the Illinois Trial Lawyers Association and Illinois Defense Counsel backing it, alongside State Rep. Jay Hoffman and House Speaker Emanuel "Chris" Welch.

Supporters framed the measure as a response to rising private equity and venture capital involvement in civil litigation, drawing explicit parallels to third-party litigation funding arrangements that finance cases in exchange for a share of recoveries. Illinois follows California and Colorado in tightening ABS rules, amid criticism that Arizona's permissive regime has allowed non-lawyer-owned firms to manage mass tort caseloads while funded through attorney-fee percentages. The trend signals growing legislative resistance to investor control of the litigation process.

Consumer

The Case for Nonlawyer-Owned Firms: Filling Consumer Justice Gaps Left by Big Law

By John Freund |

As states such as Illinois move to restrict non-lawyer ownership of law firms, defenders of alternative business structures are pushing back, arguing that ABS models expand access to justice for consumers and small businesses that traditional firms have little economic incentive to serve. The debate goes to the heart of how technology and outside capital should reshape the delivery of legal services.

As reported by Bloomberg Law, Matt Freund, co-founder and chief executive of Arizona ABS-licensed firm ClaimsHero, contends that conventional firms lack the incentive to handle consumer protection and wage-theft claims where clients cannot afford hourly billing. ABS firms, he argues, combine legal expertise with technology to operate on contingency at scale, serving more than 100,000 clients at no cost to consumers through automated onboarding, eligibility screening, and client communication.

Freund counters concerns that non-lawyer ownership weakens oversight, asserting that ABS firms face stricter regulation than traditional practices. Entity-level licensing, he notes, creates firm-wide accountability, with semi-annual audits, biennial renewals, compliance-attorney requirements, and the risk of firm-wide suspension for ethics violations. He cites a 2025 Stanford Law School study finding that 85% of Arizona ABS firms target individual consumers and that there was "de minimis evidence of consumer harm."

To address skeptics, Freund recommends entity-level regulation, feedback mechanisms, ownership transparency, and governance safeguards for attorney independence as a template for other states. The argument offers a direct counterpoint to the restrictive measures gaining traction in statehouses across the country.