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4-Traders Homepage  >  Equities  >  Nyse  >  Johnson & Johnson    JNJ

Delayed Quote. Delayed  - 08/29 07:47:16 pm
119.8301 USD   +0.66%
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Jonson and Johnson Lawsuit: Depuy's Pinnacle Hip Replacement System

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08/26/2016 | 04:31pm CEST

A federal appellate court in Texas has refused to stop Johnson and Johnson lawsuit trials regarding metal-on-metal hip replacement failures.

The 5th Circuit Court of Appeals earlier this month refused to prevent lawsuits from continuing after being asked to do so by Johnson and Johnson, parent company of Depuy Orthopaedics Inc., the manufacturer of these hip replacement systems, at issue in the current bellwether trials.

The appeal came on the heels of a Texas jury's more than $500 million verdict that held the companies responsible for the defective equipment, DePuy's "Pinnacle" hip replacement system. The Pinnacle system has since been discontinued.

So-called "bellwether" trials are in the judicial pipeline, and Johnson & Johnson officials wanted to halt those Johnson and Johnson lawsuit trials, which could streamline the process for future cases involving the defective equipment. Bellwether trials consolidate many aspects of fact-finding into one case that the parties agree to use in similar cases going forward.

Attorney Lisa G. Douglas of North Little Rock said large company's such as Johnson & Johnson are having a more difficult time avoiding liability for their faulty products.

"As consumers learn more about their rights and the options available to them, it is becoming harder and harder for global companies such as Johnson & Johnson to escape liability for these defective metal hip replacements," she explained. "Consumers today better understand that they can stand up to the Big Guy and have their day in court."

Metal-on-metal hip replacement systems have come under fire in recent years as the systems have failed more quickly than systems made of ceramic or other materials. The metal replacements also have contributed to various ailments after metal shavings made their way into recipients' bloodstream. Some of these problems have been highlighted in the recent Johnson and Johnson lawsuit.

Hip replacement surgeries have become much more common in recent years, and for a time, metal-on-metal systems were the most popular variety used. However, their high failure rate has resulted in many patients requiring corrective surgery. Many metal-on-metal systems are no longer in use, and the medical community has shifted toward hip replacements made of non-metal components.

If you or someone you know has had problems with a metal-on-metal hip replacement system, contact the Law Office of Lisa Douglas: 2300 Main Street, North Little Rock, AR 72114; (501) 798-0004 or toll free at 1888-THE LAWYER, 24 hours a day; or online, www.LisaGDouglas.com

Author: Rick Fahr staff writer for Law Offices of Lisa Douglas

Distributed by PREngine

Media Contact

Company Name: Law Office of Lisa Douglas

Contact Person: Lisa Douglas

Email: Lisa@LisaGDouglas.com

Phone: 501-798-0004

City: Little Rock

State: AR

Country: United States

Website: http://www.lisagdouglas.com/

.

(c) 2016 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials ($)
Sales 2016 72 077 M
EBIT 2016 21 808 M
Net income 2016 16 508 M
Finance 2016 13 074 M
Yield 2016 2,63%
P/E ratio 2016 20,27
P/E ratio 2017 17,86
EV / Sales 2016 4,34x
EV / Sales 2017 4,05x
Capitalization 325 679 M
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Number of Analysts 23
Average target price 127 $
Spread / Average Target 6,5%
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Alex Gorsky Chairman & Chief Executive Officer
Dominic J. Caruso Chief Financial Officer & Vice President
Paulus Stoffels Chief Scientific Officer
Susan L. Lindquist Independent Director
Charles O. Prince Independent Director
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