Blog Post
Balanced Bridge Provides Plaintiff Financing on Larry Nassar Settlement Awards
Mar 26, 2020
Balanced Bridge Funding is offering an advance to plaintiffs who have settled case awards in lawsuits involving Larry Nassar. The now disgraced doctor was found guilty by the courts of abusing patients during his time as a gynecologist at both Michigan State University (MSU) and United States of America Gymnastic Women’s National Team. While Nassar sits in jail for the rest of his life for his crimes, settlements have and continue to be worked out against defendants named in the suits who were the employers of Nassar.
In 2018, MSU settled
with the plaintiffs of the lawsuit involving Dr. Nassar for $500 million. In January 2020, USA Gymnastics offered
to settle the claims of the accusers for $215 million. In both cases, plaintiffs alleged Nassar abused them while giving them gynecological exams. For the plaintiffs in the MSU case, it was students who attended the university that went to the school’s gynecologist. According to news reports about the settlement, $500 million was set to compensate over 300 of Nassar’s victims. In 2019, The Detroit News reported
a second wave of plaintiffs who sued the university over Nassar’s abuses to them after the settlement was reached. In January, a recent news article
stated MSU paid roughly $498 million from the $500 million settlement to the plaintiffs. However, according to the article, there are 20 to 30 plaintiffs who still haven’t received their award.
The progress made in the MSU settlement contrasts with the USA Gymnastics lawsuit, which appears to be a long way from being settled. The organization filed for bankruptcy in 2018 because of the Nassar lawsuits. Over 300 plaintiffs filed suit against USA Gymnastics, including famous athletes and Olympic gold medal winners like Gabby Douglas, Simone Biles, Aly Raisman and others who represented the United States of America. Recently, Raisman and Biles came out against the organization’s offer
to settle the lawsuit.
Any plaintiff with an award in Dr. Nassar settlements that are interested in receiving a portion upfront can contact Balanced Bridge via email info@balancedbridge.com or by phone at 267-457-4540. Interested plaintiffs can also fill out an application on our website.
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Balanced Bridge can offer funding to plaintiffs’ and plaintiffs’ attorneys involved in settled cases against Harvey Weinstein and The Weinstein company. We can provide funding on the fees owed to the attorneys and on the awards the plaintiffs will receive . Once you know the amount you are to receive from the settlement, Balanced Bridge can provide an upfront portion of the amount due for you to use at your discretion. Harvey Weinstein was a famous producer in Hollywood. Many of the movies he was associated with are considered classics and some examples of great filmmaking. However, in recent years his reputation and livelihood were tarnished due to his alleged behavior he was accused of. The last few years, Weinstein’s fall from grace includes charges of sexual harassment, sexual abuse, rape against multiples of women. Many of the accusers are women he allegedly tried to give acting jobs too, high profile actresses, and even some assistants. Arguably, the start of his decline began with a recorded interaction between Weinstein and a lesser known actress that was everywhere. From there the floodgates seemed to open with accusations piling up and stories about his alleged behavior all over the news. Recently, a federal judge threw out a $25 million settlement agreement between the plaintiffs’ and Bob Weinstein. According to news stories about the judge’s action, he called the agreement obnoxious because it covered the legal fees for Weinstein and his brother Bob and other board members of the company. In addition, it was reported the agreement did not include him taking responsibility for his actions. The Hollywood Reporter published a story about the details of the collapse. The settlement would have created a compensation fund for the victims for over 30 accusers and any future claimants. It would also have settled all the lawsuits against Weinstein and his company. However, The Weinstein Company is now in bankruptcy and that could complicate matters when it comes to reaching a settlement. The Wall Street Journal reported bankruptcy attorneys are trying to salvage the settlement. There is a lot of financial uncertainty, and creditors will be fighting amongst themselves to determine who gets paid first. Weinstein is currently in a New York state prison serving over 20 years after being found guilty of rape. He is due to face similar allegations in a California court. Balanced Bridge Funding has experience providing funding to plaintiffs with sexual abuse cases ., as well as to the attorneys representing them. For more information, please call one of our legal finance specialists at 267-457-4540, or fill out our quick form application .
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