Johnson and Johnson Earnings Down Amid DePuy Charge
In recent financial reports Johnson & Johnson, owner of DePuy Orthopaedics, has set aside almost $1 billion to prepare for litigation and settlements related to injured plaintiffs who have used the DePuy hip replacement apparatus. The litigation nationally is just commencing with the formation of an MDL (multi-district litigation). It is has been active in California for some time and a motion is pending in San Francisco Superior Court to join the cases for pre trial proceedings there.
Over 93,000 DePuy hip replacement devices were recalled in August of 2010 largely due to a failure rate much higher than previously anticipated by Johnson & Johnson.
Click here to read more about Johnson and Johnson’s 2010 income performance: Product recalls weigh on JJ earnings – MarketWatch
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