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Products Liability Archives

Products Liability Cases Lead to $1 Billion Settlement

Victims of defective hip implants are finally receiving compensation for their injuries after five months of mediation and negotiations recently came to an end. Just last week, a $1 billion settlement was announced in the products liability lawsuits against Stryker Corporation, the maker of the defective Rejuvenate and ABG II hip replacement devices that were installed in thousands of people across the country. Under the terms of the settlement agreement, payouts should begin in the summer of 2015. The total payouts are not strictly limited to $1 billion figure, however. Stryker can end up paying out much more than that depending on the number of claims filed, and the actual figure is expected to exceed $1.4 billion.

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