Rottenstein Law Group Curious About Reserves Set Aside by Johnson & Johnson for DePuy Victims
The Rottenstein Law Group, which represents clients with claims stemming from the failures of defective hip replacement devices manufactured and sold by DePuy Orthopaedics, a subsidiary of Johnson & Johnson, notes with curiosity that the company’s reserve of funds to compensate victims of the DePuy ASR recall seems to have gotten considerably smaller.
The second-quarter 2011 report made prominent mention that net earnings included, among other things, a “net after-tax charge of $223 million representing the net impact of expenses related to litigation, additional DePuy ASR Hip recall costs, and an after-tax mark-to-market gain associated with the currency option related to the planned acquisition of Synthes, Inc.”
Previously, however, J&J had announced a fourth-quarter 2010 after-tax charge of $922 million representing money set aside to cover litigation settlements and awards and other costs associated with the DePuy ASR Hip recall.
In August of 2010, DePuy—a subsidiary of J&J—announced a global hip replacement recall of two devices: the ASR Hip Resurfacing System and the ASR XL Acetabular System. Each unit replaces a worn or weakened part of the hip. Many orthopedic doctors believe that the units were poorly designed. The implants can generate debris from wear, causing inflammation and tissue damage in recipients. Ninety three thousand persons worldwide had an ASR device implanted.
More recently, according to the U.S. Food and Drug Administration, problems with DePuy’s Pinnacle hip replacement system have come to light. More than 50 claimants have already filed lawsuits against DePuy alleging that the Pinnacle system was defectively designed and/or that DePuy failed to provide adequate warnings concerning the Pinnacle. At issue is whether Pinnacle, a metal-on-metal joint replacement mechanism, is shedding metallic particles into recipients bloodstreams and tissues.
Unfortunately, recipients of joint replacement units often do not know the manufacturer and/or model of the specific device received. This circumstance can lead to a victim’s failing to take required actions—medical and legal—before too late. Accordingly, the Rottenstein Law Group encourages anyone with a friend or relative who has received a hip replacement device to reach out to that person and recommend that he or she consult a physician immediately and then speak to a qualified personal injury lawyer about potentially bringing a DePuy Pinnacle lawsuit.
The Rottenstein Law Group maintains a DePuy Pinnacle Lawsuit Information Center at http://www.depuypinnaclelawsuit.com. The site has features that allow for easy sharing, including links for automatic posting on Facebook and Twitter, specifically to enable visitors to spread the word about the DePuy Pinnacle failures.
About THE ROTTENSTEIN LAW GROUP
The Rottenstein Law Group is a New York-based law firm that represents clients in mass tort actions. The firm was founded by Rochelle Rottenstein, who has more than two decades of experience as a lawyer, to represent clients in consumer product injury, mass tort, and class action lawsuits in a compassionate manner. http://www.rotlaw.com
The Rottenstein Law Group, LLP
Rochelle Rottenstein, Esq.
1259 Veeder Drive
Hewlett NY 11557
(212) 933-9500 (office phone)
(212) 933-9980 (facsimile)
Read more: http://www.benzinga.com/pressreleases/11/07/p1796301/rottenstein-law-group-curious-about-reserves-set-aside-by-johnson-johns#ixzz1T7hQtiSh
- Rottenstein Law Group Curious About Reserves Set Aside by Johnson & Johnson for DePuy Victims (prweb.com)
- Crucial Documents Could Determine DePuy Hip Replacement Lawsuit Results (earlsview.com)
- Lawsuit Against DePuy Filed From Spain (earlsview.com)
- Bruce Greenfield may be the last New Zealander implanted with a faulty hip joint (earlsview.com)
- Australia – Hip surgery ruins lives (earlsview.com)
- Many Calling for DePuy Pinnacle Recall as Unexplained Pains Begin to Surface (milanscott.wordpress.com)
- Hip-replacement recall hurts profits at Johnson & Johnson (earlsview.com)
- Associate Professor Michael J. Neil – Doesn’t Recommend Resurfacing (earlsview.com)