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    Hip Replacement Problems Could Cost Johnson & Johnson Billions

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    Posted on November 13, 2013 To

    Multiple sources have confirmed that a tentative settlement agreement has been reached in the case of faulty hip devices. Clifford Law Offices represents several clients who have been victims of this faulty device. The current reported settlement amount stands at $4.4 billion, but could go up a few hundred million more should the plaintiffs also secure the right to have insurance and Medicare payouts reimbursed, according to Bloomberg News and The New York Times. The full details of the settlement remain uncertain, but a preliminary release includes the details of an “average” settlement of $350,000 per plaintiff and the option to have the faulty Articular Surface Replacement (ASR) removed and substituted for a functional device. This decision is hoped to alleviate the issues that have plagued the ASR device recipients for years, for which Johnson & Johnson mandated a recall after a drastic increase in reported failures in mid-2010.