NEW YORK, Jan. 23, 2014 /PRNewswire/ -- As hundreds of Stryker hip lawsuits (http://www.strykerhiprecallclaims.com/) continue to move forward in courts around the country, Bernstein Liebhard LLP notes that Stryker has recently released its 2013 fourth quarter earnings report. According to the report, fourth quarter profits increased 43% over the same period last year. Notably, Stryker reported that it recorded costs of $99 million relating to product recalls, including the Rejuvenate and ABG II recall. That was an improvement over the fourth quarter of 2012, when the company disclosed costs relating to recalls of $174 million.
"Prior to the announcement of the Stryker hip recall, more than 20,000 Rejuvenate and ABG II hip stems had been sold worldwide, and now the company is facing hundreds of product liability lawsuits related to this issue. It's not surprising that nearly two years after the recall was announced, Stryker continues to feel its financial impact," says Bernstein Liebhard LLP, a nationwide law firm representing the victims of defective drugs and medical devices. The Firm is offering free Stryker hip lawsuit reviews to individuals who allegedly suffered serious complications related to the Rejuvenate and ABG II hip stem recall.
Stryker Hip Recall
Stryker recalled its Rejuvenate and ABG II hip stems in July 2012, after the metal hip components were found to be vulnerable to fretting and corrosion at the modular-neck junction. According to the company, this defect may cause recipients of the hip stems to experience pain, swelling, and adverse local tissue reactions. Stryker has advised that those fitted with Rejuvenate or ABG II hip stems to undergo metal ion blood testing and imaging studies to ensure the components are functioning properly, even if they have not experienced any symptoms that would indicate otherwise.
According to court documents, more than 640 Stryker hip lawsuits have been filed in New Jersey's Bergen County Superior Court on behalf of plaintiffs who were allegedly injured by Rejuvenate and ABG II hip stems. The Court has embarked on an early mediation program, and the first phase of that process has already resulted in the settlement of four claims. (In Re Stryker Rejuvenate Hip Stem and the ABG II Modular Hip Stem Litigation, No. 296)
At least 512 additional product liability claims relating to the Stryker hip recall have been filed in a federal multidistrict litigation currently underway in U.S. District Court, District of Minnesota. (In re: Stryker Rejuvenate and ABG II Hip Implant Products Liability Litigation, MDL No. 2441) The lawsuits pending in both the state and federal proceedings similarly allege that Rejuvenate and ABG II hip stems have caused recipients to suffer a variety of painful and debilitating complications, including metallosis, adverse local tissue reactions, necrosis, and failure of the hip, often resulting in the need for revision surgery.
Individuals who were allegedly injured by Rejuvenate and ABG II hip stems may be entitled to compensation for their medical bills, lost wages, pain and suffering, and other damages. To learn more about filing a Stryker hip lawsuit, please visit Bernstein Liebhard LLP's website. Free case reviews can also be obtained by calling (888) 340-4807.
About Bernstein Liebhard LLP
Bernstein Liebhard LLP is a New York-based law firm exclusively representing injured persons in complex individual and class action lawsuits nationwide since 1993, including those who have been harmed by dangerous drugs, defective medical devices and consumer products. The firm has been named by The National Law Journal to the "Plaintiffs' Hot List," recognizing the top plaintiffs' firms in the country, for the past 11 consecutive years.
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ATTORNEY ADVERTISING. © 2014 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (888) 340-4807. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Felecia L. Stern, Esq.
Bernstein Liebhard LLP
info (at) consumerinjurylawyers (dot) com
SOURCE Bernstein Liebhard LLP