New York, New York (PRWEB) November 16, 2011
Bernstein Liebhard LLP reports on Johnson & Johnson’s Third Quarter Earnings Report, which was filed with the U.S. Securities and Exchange Commission on November 8, 2011.* The quarterly earnings report details various legal proceedings the Company is currently defending, disclosing that its “subsidiaries are involved in numerous product liability cases” in which the “damages claimed are substantial.” Specifically, the report states that “[m]ultiple products of the Company’s subsidiaries are subject to product liability claims and lawsuits in which claimants seek substantial compensatory and, where available, punitive damages.” Among others, the report cites to lawsuits relating to the DePuy ASR hip replacements and the DePuy Pinnacle hip replacements. In addition to lawsuits stemming from other medical devices, the 10-Q Report notes that as of October 2, 2011, there were approximately 3,500 pending lawsuits related to the ASR hip implants and 560 with respect to the Pinnacle hip systems. As to costs and expenses associated with these lawsuits, the 10-Q reveals that litigation expenses and additional DePuy ASR hip recall costs of $223 million were recorded in the fiscal nine months of 2011.
Currently, the lawyers at Bernstein Liebhard LLP are representing clients allegedly injured by both the ASR hip implants and the Pinnacle hip replacements, which were manufactured by Johnson & Johnson. The Firm is actively filing cases in In re: DePuy Orthopaedics, Inc. ASR Hip Implant Products Liability Litigation (“MDL No. 2197”), which is currently underway in the U.S. District Court for the Northern District of Ohio; and In re: DePuy Orthopaedics, Inc. Pinnacle Hip Implant Products Liability Litigation (“MDL No. 2244”), which is currently underway in the U.S. District Court for the Northern District of Texas.
Johnson & Johnson Anticipates Increasing Litigation Over Recalled ASR Hips
In addition to providing statistics on the number of lawsuits that the Company is currently defending, the report also provides details regarding the impact of the ASR artificial hip recall, which was initiated in August 2010. In the aftermath of the recall, the report notes that “the number of pending lawsuits continues to increase. The Company continues to receive information with respect to potential costs associated with this recall” and has since established a “product liability accrual” in anticipation of product liability litigation settlements and costs associated with the ASR hip recall.
Since Johnson & Johnson issued its ASR hip recall in August 2010, Bernstein Liebhard LLP has provided a wealth of consumer information concerning both the Pinnacle and ASR hip systems on its website, http://www.consumerinjurylawyers.com. If you or a loved one received a DePuy ASR or Pinnacle implant during hip surgery and have experienced hip replacement pain or had to undergo revision surgery, you may be entitled to compensation for medical bills, pain and suffering, lost wages and other injuries.
For more information about filing a DePuy hip replacement lawsuit, contact an attorney at Bernstein Liebhard LLP at (877) 779-1414 or at info(at)consumerinjurylawyers(dot)com.
About Bernstein Liebhard LLP
Bernstein Liebhard LLP is a New York-based law firm exclusively representing injured persons in complex individual and class action lawsuits nationwide since 1993, including those who have been harmed by dangerous drugs, defective medical devices and consumer products. The firm has been named by The National Law Journal to the “Plaintiffs’ Hot List,” recognizing the top plaintiffs’ firms in the country for the past nine consecutive years. Only two firms in the country have been selected for the Hot List nine years in a row.
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Felecia L. Stern, Esq.
Bernstein Liebhard LLP