With thousands of vaginal mesh and bladder sling lawsuits file the Miami, Ft Lauderdale, West Palm Beach, Tampa and Orlando pelvic mesh repair attorneys question whether or not companies like C.R Bard, AMS, Coloplast, and Boston Scientific will be able to take the financial hit or will they file bankruptcy. They tell us that Johnson and Johnson should be able to handle it although, they are facing some big liability lawsuits with their hip replacement failure lawsuits.
The last huge class action involving this many injured this many women was the Dow Corning Breast Implant class action. Dow Corning did file bankruptcy.
Dow Corning and other breast implant manufacturers, including Baxter International, Bristol-Myers Squibb, 3M and Union Carbide, reached a settlement with victim’s attorneys in September 1994. Under the terms of this settlement, a $4.23 billion trust was be established. $2 billion was contributed by Dow Corning. The fund would act as an insurance policy: Women with implants who signed up by the March 1, 1995 deadline would receive compensation if they became ill later, to a maximum of $1.4 million. If they preferred to opt out of the settlement to attempt to recover more through the courts, they had to indicate that they intended to do so by the deadline. The largest part of the trust is a $1.2 billion disease compensation fund. Over 410,000 women joined in on the settlement .The huge number of disease claims caused a shortfall in funds and U.S. District Judge Samuel Pointer in Birmingham, Alabama, ordered a renegotiation of the settlement, which was in process in the weeks before Dow Corning’s bankruptcy filing.
In the Dow Corning Breast Implant class action bankruptcy a halt was put to any compensation under the settlement by a specific cut off date, as well as any new lawsuits. Women who desperately need medical treatment, including removal of the implants, will have to wait until the bankruptcy’s resolution before receiving funds. (Most insurance companies have refused to cover treatment.) Moreover, the settlement itself is in jeopardy, since Dow Corning, the primary supplier of the gel used in the implants, is the main contributor to the fund.
Will The Vaginal Mesh Lawsuits Go The Same Route?
Many Florida vaginal lawyers think that Judge Goodwin’s solution,to hold consolidated trials, will bring the litigation closer to a resolution.
The Good News For Florida Mesh Victims
Florida has a 4 year statute so you can still file your vaginal mesh or bladder sling lawsuit. Do not wait. If a trust is established there will be deadlines and cut off dates. Get in now Call the Vaginal Mesh Helpline 1 877 522-2123 and get a vaginal mesh lawyer today.