Update on Recent Billion Dollar Verdict in Pinnacle Trial
Hi Stuart Talley, here to do a update on the ongoing Pinnacle metal on metal hip trial. I apologize for the quality of the video I’m on the road today. I’m in my hotel room but there was some important news that I wanted to get out to everybody today.
We had a verdict in the third Pinnacle metal on metal hip trial the first trial ended at a defense verdict. The second one ended in a verdict of about 500 million dollars that was reduced to a little over a hundred million. And today we heard from the jury, and today we had a billion dollar verdict that’s billion with the be just a little over a billion. There’s a lot of details about the verdict that we don’t have right now but we’ll update our blog next week with those details. But what we do know is about half of that amount about 500 million was a portion to compensatory damages and about half was for punitive damages.
This is a remarkable verdict as far as compensatory damages. If you take six people and you divide 500 million that is close to 80 million dollars a person. There has never been a defective hip case that’s gone to trial that’s had a verdict in that range for compensatory damages. That’s a very big number. DePuy likely will file motions to seek a new trial to overturn the verdict to reduce the award. There’s a whole bunch of post trial motions that they’ll file they’ll also likely appeal this verdict but what this does is it puts a lot of pressure on DePuy to finally come to the table with a meaningful settlement offer for everybody who’s been affected by this hip. They cannot keep taking these big verdicts. Eventually the shareholders are going to start asking questions and they may believe they have a good shot on appeal but I think what’s important to understand is that even if they win these appeals on these verdicts, the best they can hope for is a new trial.
Another situation where they have to face this evidence again in a court of law spend millions of dollars on experts and witnesses and lawyers to show up to defend themselves. And it’s just not a sustainable model. There’s 8,000 cases pending so this is very very good news for the plaintiffs. The other thing about this that was surprising was how quick that the verdict came out there were six individuals and each person had to be considered separately. And the verdict came back in a day that’s pretty remarkable so like I said this is great news for plaintiffs who have hips the next trial is set for September.
Stay tuned, we’ll provide further updates next week on the details of this verdict. Also as post trial motions are filed we’ll give you an update on that as well. Also, if you have any questions at all about the litigation or what’s going on, feel free to give us a call you. Can reach us at the phone number on the screen or you can go to our website fill out one of our online forms and a lawyer will get right back to you.