Biomet agrees to settle more than 1,000 product liability lawsuits filed over its M2A Magnum metal-on-metal hip implant.
Biomet said it agreed to settle more than 1,000 lawsuits filed over its M2A Magnum hip implants and will likely exhaust the $50 million it set aside to cover the legal tab.
The multi-district litigation over the M2A Magnum, a metal-on-metal implant, encompassed 1,012 suits as of Jan. 31, Biomet said. Lawsuits filed by April 15 can get in on the settlement, the orthopedic implant maker said. The MDL is overseen in South Bend by Judge Robert Miller Jr. of the U.S District Court for Northern Indiana.
“Biomet continues to evaluate the inventory of lawsuits in the MDL pursuant to the categories and procedures set forth in the settlement agreement. The final amount of payments under the settlement is uncertain,” the company said. “Biomet is pleased to have reached this settlement and have the MDL resolved. Biomet appreciates the guidance provided by Judge Miller to bring this litigation to an expeditious and efficient resolution.”