Law360, New York (November 19, 2013, 11:53 AM EST) -- Johnson & Johnson agreed Tuesday to pay $2.5 billion to settle thousands of lawsuits brought by patients who needed to have their faulty metal-on-metal hip implants replaced.
Under the agreement, each of the 8,000 patients expected to participate in the settlement would receive a base award of up to $250,000, with a supplemental award possible for those patients who suffered extraordinary injuries as a result of the revisionary surgery. Johnson & Johnson has set aside $2 billion for the base awards and $475 million for the supplemental awards.
The company's DePuy Orthopaedics Inc. subsidiary is facing some 10,000 federal and state...
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