Is Coloplast ready to settle their transvaginal Mesh claims?

Is Coloplast Ready to Settle?


There have been a number of developments in 2015 that has offered some hope to the thousands of women waiting for news about their open Transvaginal Mesh Lawsuits. In Aug C.R. Bard announced it would agree to pay around $200 Million to resolve about 3,970 Bladder Sling Lawsuit Claims. Boston scientific announced in April it would settle about 3,000 claims for around $119 Million. AMS even announced $54.4 Million to settle an undisclosed amount of cases. The next major announcement in this series of events is from Coloplast the Danish Transvaginal Mesh manufacture and has many thinking this corporate giant may be ready settle.

In late September Coloplast announced it was reducing their full-year earnings before interest and tax (EBIT) margin from 32% to around 11% as they were setting aside an additional 3 Billion Danish Crowns ($448 Million) for legal claims regarding their transvaginal surgical mesh products in the United States. This amount is in addition to 1.5 billion Danish Crowns that the company had already set aside bringing the overall total to somewhere around $672 Million (US).

Coloplast sets aside $672 Million for Transvaginal Mesh Litigation


In light of this new announcement many attorneys are hopeful that a Coloplast settlement offer is imminent. Lars Rasmussen CEO at Coloplast recently stated “Going forward we do not wish to disclose the number of claims against Coloplast because of the confidentiality of the current settlement negotiations. But with the knowledge available to us today it is our best estimate that the DKK 4,5bn will cover the total costs of all claims”. These are very powerful words from one of their top executives and should provide some relief for the thousands of unsettled claims they hold.
 
There are over 8 different manufactures of the transvaginal Mesh and Bladder sling implants, each with their own set of claims. Every an announcement, whether it be a judgment, lost court case or settlement puts additional pressure on the other manufactures. Especially if the settlement is as large as this recent news suggests. With the number of settlements announced this year many believe that this lawsuit may be nearing its end.  This would be well received and long overdue news for the thousands of women involved in the lawsuit.
What would happen if all manufactures settled?

It is impossible to predict everything that would happen if all the manufactures engaged in complete settlement talks. With over 8 different Plaintiffs and a whole host of attorneys representing thousands of clients’, negations could imaginably be very difficult. We could assume each side would fight hard, attorney’s battling for their client’s and the manufactures fighting to limit their monetary damages. Throughout the process you might see some firms accepting settlements before others but eventually court approved settlements will be classified into groups based upon severity of injury. Settlement amounts would then be set according to these groups. Compensation would finally be distributed to all cases that qualified based on the terms of the final agreement.
 

Can you still file a claim if all the manufactures have already settled?


 Depending on the terms of any proposed agreement which is likely to have provisions prohibiting firms from filing new claims. Such a move might make it very difficult to find an attorney. Since most firms involved would be bound by this agreement. It is unknown what the actual terms would be and how the settlement talks would progress but this is a prime example of what could happen and why it is so important to file a claim early. If you or a loved one have ever been injured or suffered complications after a transvaginal mesh or bladder sling implant you may qualify for legal representation. To qualify simply complete the Free Legal Case Review or call (888) 508-0836. Time may be limited to file a claim and compensation may be available to the injured.



 
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