As New Jersey and Philadelphia DePuy hip recall attorneys, we have been providing updated posts regarding the DePuy hip recall litigation, the nature of the hip defects which led to the litigation, and some helpful tips for any patients who may have a recall claim. These posts are designed to help any potential claimant understand the recall litigation and claims process.
DePuy and Johnson & Preparing for Something, But What?
Recent news demonstrates that not only are DePuy recall lawyers and patients planning for the litigation, but Johnson & Johnson and DePuy have also recognized the potential problem and have taken financial steps to prepare themselves. According to Johnson & Johnson’s fourth quarter earnings report released this past month, the company is taking a $922 million charge related to its potential exposure for the DePuy hip recall. While $922 million may sound like a large sum of money, it may be inadequate to cover the sum of 93,000 potential claimants that will require compensation from Johnson & Johnson.
DePuy hip recall patients should not worry about Johnson & Johnson’s overall financial health. According to the same fourth quarter earnings statement, Johnson & Johnson posted a net income of $1.9 billion in its orthopaedic unit and $5.71 billion in its pharmaceutical unit.
Neither Johnson & Johnson nor DePuy issued any official statement regarding the funds set aside, or their plans for the DePuy recall litigation. Therefore, it is unknown whether the $922 million has been set aside for payment of legitimate DePuy hip recall claims, or if it has been set aside so that Johnson & Johnson and DePuy can mount a high price defense in order to minimize exposure.
DePuy Hip Recall Lawyers in New Jersey and Philadelphia
As New Jersey and Philadelphia DePuy hip recall lawyers, we will be watching closely and posting any additional information about the DePuy hip recall. If you or a loved one are recipients of a defective DePuy hip implant, contact the Mininno Law Office for a free case evaluation, or call for a free consultation at (856) 833-0600 in New Jersey, or (215) 567-2380 in Philadelphia.
Bob Lugton, of Brisbane, Australia, was declared the first “Aussie” to join the DePuy hip recall lawsuit. Mr. Lugton filed suit when his DePuy hip implant failed only 18 months after having been implanted. As stated in previous posts, DePuy and Johnson & Johnson claimed that their hip implant would last as long as 20 years, so Mr. Lugton was a very unhappy man after his brand new hip failed so quickly. Like most DePuy hip recall patients, Mr. Lugton was also found to have cobalt and other metals leaking into his body from the wear and tear of his hardware. When asked why he joined the DePuy hip recall lawsuit, Mr. Lugton reportedly stated, “This is not for financial reasons”, but to let other people know of the devastating effects of toxic cobalt and chromium levels on his health and welfare.
If you are a victim of the
Chromium and Cobalt. These metals are not found in your local vitamin store: Chromium is a chemical element found on the periodic table under atomic number 24. It is used to make stainless steel and all of the shiny parts called “chrome” on automobiles.
Similarly, Cobalt is also a chemical element found on the periodic table under atomic number 27. Since ancient times, it has been used as a blue pigment to tint glass, jewelry, and furniture.
With the recent news about the