The funding of the settlement negotiated on behalf of DePuy ASR patients who had their devices taken out prior to August 31, 2013 became final today when DePuy Orthopedics and its parent company Johnson & Johnson announced they would fund the multi-billion dollar deal.
San Francisco, CA (PRWEB) May 16, 2014
The proposed settlement announced in November 2013 had been made to patients who underwent a second operation, called a revision surgery, to remove the faulty ASR and replace it with another hip prostheses. Walkup Melodia lawyers Matthew Davis, Khaldoun Baghdadi, and Michael Kelly were part of the settlement negotiation and oversight team that brought the deal to fruition. Approximately 7,200 American ASR patients — more than 94% of those who were eligible — decided to accept the settlement. DePuy and J&J had announced a requirement that at least 94% of patients would be required to accept the proposal for funding to occur. (Los Angeles County Court record BC456086)
DePuy and J&J will now deposit the funds in an escrow account while a neutral third party processes the thousands of individual claims. The first settlement payments are expected this summer and will be made on a rolling basis thereafter.