Hip implant payout tops $50 million (Journal Gazette)
800 part of Biomet settlement
Biomet Inc. has agreed to pay a base rate of $200,000 each to patients who received a specific hip model and had to have it replaced, according to court documents.
Company officials estimated in a Securities and Exchange Commission document that the total payout could exceed $50 million.
The settlement was reached 16 months after about 1,000 lawsuits were combined in multidistrict litigation against the Warsaw-based orthopedic device-maker.
It was not a class-action suit because class actions are used only whe...
