Hip implant payout tops $50 million – 800 part of Biomet settlement
Sherry Slater | The Journal Gazette
Last updated: February 7, 2014 12:51 p.m.
Biomet Inc. has agreed to pay a base rate of $200,000 each to patients who received a specific hip model and had to have it replaced, according to court documents.
Company officials estimated in a Securities and Exchange Commission document that the total payout could exceed $50 million.
It was not a class-action suit because class actions are used only when every plaintiff is seeking the same amount in damages, attorney Tom Anapol said.
In this case, the $200,000 base settlement can be increased or decreased on a case-by-case basis, depending on circumstances.
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