Transvaginal Mesh Manufacturer Boston Scientific Sets Aside Nearly $1 Billion for Legal Expenses
In light of the ongoing lawsuits against Boston Scientific on behalf of women alleging severe injuries from their transvaginal mesh (TVM) devices, the 2006 acquisition of Guidant Corporation, and IRS tax issues, Boston Scientific has set aside nearly $1 Billion to pay legal expenses – as reported by the Boston Business Journal. According to the report, CFO Dan Brennan informed analysts last week that Boston Scientific has increased its litigation reserves by $139 Million over the last three months for a total of $945 Million as of the end of September.
In particular, Boston Scientific is facing over 14,000 lawsuits for their TVM devices according to the most recent JPML report. Thousands of women allege that they have experienced complications from these devices, including device erosion, organ perforation, intense pain, inability to have sexual intercourse, infection, and the need to undergo multiple revision surgeries. These federally-filed claims against Boston Scientific have been consolidated in a Multidistrict Litigation (In re: Boston Scientific Corp. Pelvic Repair System Products Liability Litigation, MDL 2326) before The Honorable Judge Joseph R. Goodwin in the United States District Court for the Southern District of West Virginia.
There have been two trials so far involving Boston Scientific. The first trial resulted in a verdict in favor of Boston Scientific on July 29, 2014. (Albright v. Boston Scientific Corp., Case No. 12-909, Superior Court of the Commonwealth of Massachusetts, County of Middlesex). Following nearly a three-week trial, the majority of jurors decided that plaintiff received adequate informed consent regarding the risks associated with the TVM device manufactured by Boston Scientific. However, Boston Scientific lost its second trial in Texas where a jury ordered Boston Scientific to pay $73 Million in damages to a woman who was seriously injured by the company’s vaginal-mesh implant. In particular, the jury awarded the injured woman $23 Million in compensatory damages and $50 Million in punitive damages. (Salazar v. Lopez, No. DC-1214349, District Court for Dallas County, 95th Judicial District of Texas).
If you or a loved one has experienced serious injuries as a result of a transvaginal mesh device, please contact one of our experienced attorneys at Schlichter, Bogard & Denton, LLP toll-free at 1-800-873-5297. We will confidentially evaluate your case for free and without any obligation.
The choice of a lawyer is an important decision and should not be based solely on advertisements. The cases discussed do not predict outcomes in future cases. Past results afford no guarantee of future results and every case is different and must be judged on its own merits.