Johnson & Johnson is keeping mum on a report by Bloomberg News that the medical device giant has agreed to pay more than $4 billion to settle thousands of lawsuits over its recalled defective hip implants.
Bloomberg reported that it had confirmation of the deal from three people very close to the negotiations. If true, it would be the largest settlement of claims for a medical device in United States history, dwarfing the old record by some $3 billion.
According to Bloomberg, the settlement will resolve some 7,500 lawsuits in federal and state courts. That would average out to some $300,000 per claimant – and it would be open-ended, which means it would not bar patients whose hips may fail in the future from seeking compensation from J&J.
While $300,000 sounds like a lot of money, one expert interviewed by Bloomberg said that some of the victims might not feel it is enough compensation for what they have been through. For the accord to go through, 94 percent of eligible claimants must sign up for the settlement, according to Bloomberg’s sources. The settlement would only cover cases in the United States.
In the two cases that have gone to trial over the defective hips, J&J lost one and won the other. Two other scheduled cases were settled before going to trial. Plaintiffs claimed that DePuy, the J&J unit responsible for the design and manufacture of the artificial hips, had improperly warned patients of the risks the hips posed and had knowingly designed a defective device.
Do you have questions about this proposed settlement and how it may affect you or a loved one who has suffered an injury due to a defective DePuy hip? Contact the defective DePuy hip injury attorneys at Farah & Farah in Jacksonville. We can clear up your confusion and explain your legal rights and options.
You can contact us online to make an appointment to speak to one of our attorneys or you can contact us directly at (800) 533-3555 for a free, no-obligation consultation.