Johnson & Johnson (NYSE:JNJ) – Johnson & Johnson hits $300 million

Johnson & Johnson (NYSE:JNJ) – Johnson & Johnson hits $300 million

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  • Johnson&Johnson JNJ Has reached an agreement for AUD 300 million in two Australian class actions brought by Shine Lawyers for selling defective pelvic mesh implants to Australian women.
  • The settlement, reached on September 9, is the largest in a product liability class action in Australian history. It follows multiple court cases involving more than 11,000 plaintiffs, JNJ and its subsidiary Ethicon.
  • Shine Lawyers led the Australian class action lawsuits, claiming Johnson & Johnson failed to properly test the devices and downplayed their risk to surgeons and patients.
  • Pelvic mesh manufacturers have faced thousands of lawsuits from women who say they have suffered pain, urinary problems, bleeding and other serious injuries from the implants.
  • Reuters reported that total settlements for J&J and other pool net manufacturers to date have exceeded $8 billion.
  • Earlier this year, a California court ordered J&J to pay $302 million for concealing the risks of Ethicon’s pelvic mesh products.
  • A second class action lawsuit was filed by Shine Lawyers in April 2021 on behalf of women who received their implants on or after July 4, 2017 and were not eligible to join the first class action lawsuit, alleging similar allegations to the first.
  • The AUD 300 million settlement still requires the approval of the Federal Court of Justice.
  • In 2019, the FDA ordered all pelvic mesh manufacturers to stop selling the devices.
  • Price promotion: JNJ shares are up 0.11% to $165.90 during the premarket session on last Check Monday.


Read full story here https://www.benzinga.com/news/large-cap/22/09/28826273/johnson-johnson-reaches-300m-settlement-in-australian-pelvic-mesh-lawsuit

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