Breaking news! Johnson & Johnson is poised to pay over $4 billion to settle the their recalled hip implants. The deal will put an end to the vast majority of the almost 8,000 lawsuits filed around country.
What Does This Settlement Mean to Me
The news just broke but we are waiting on details. These numbers compute out to about $300,000 per case which is about what I have been projecting all along. ($3 billion was the number tossed about just weeks ago.)
This does not mean your case will settle for $300,000. It could be more if your injuries were more serious – or your implant was done relatively late when J&J clearly knew the risks. It could also be less if your injuries are less serious than most. These settlements generally have tiers based on a variety of factors, including the two I just mentioned. It is not likely that your attorney knows at this point exactly what your case will settle for should you choose to accept the offer.
Also, keep in mind you can opt out of the settlement. No one can make you settle. You still will have the opportunity to take your case forward to trial. But the vast majority of these claims will settle for the amounts agreed to in this settlement.
J&J got its butt kicked in the first trial: an $8.3 million verdict. Sure they won the last verdict. But think about it. That is an average of $4 million. That was completely untenable. Litigation costs were mounting for both sides. DePuy knew that another big verdict would send expectations for plaintiffs through the roof, making these cases that much harder to settle.
When Will I Get My Money?
Well, that is an issue for you to discuss with your lawyer? But, let me be honest, mass tort settlements can take quite some time. Your counsel does not get paid in most cases until you have been paid. So everyone wants to push the ball forward and put these cases behind us. But it does take time. Your case could take extra time if you have complicated health insurance or other liens against your case. Your lawyer can give you more information as to how long it will take for your claim to finally come to an end with you getting your check. But, right now, no one knows the answers.
Come back tomorrow for more details.