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Guidant Defibrillator Settlement Increased to $240M
Contact a Guidant Heart Defibrillator Lawyer
November 20th, 2007
"Guidant Heart Defibrillator Claims"
Boston Scientific Corp. has amended a settlement agreement involving faulty Guidant defibrillator claims to include an additional $45 million, bringing the total settlement amount to $240 million.
The company initially agreed to settle more than 5,600 pending federal lawsuits for $195 million in July. Those claims alleged harm from defective pacemakers and defibrillators sold by Guidant and recalled in 2005.
In 2006, Boston Scientific acquired Guidant Corp. and assumed liability for the pending claims. The original settlement was reached through court-supervised mediation and was for much less than the $732 million the company had at first estimated the suits would cost.
The new settlement will cover more than 8,500 claims, filed and unfiled.
“We are pleased with this amendment, which is in the best interest of all involved,” said Jim Tobin, president and chief executive of Boston Scientific.
(Source: The Wall Street Journal online)
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