St. Jude Medical Settlement Announced
St. Jude Medical discontinued selling the Riata silicone-insulated lead models as of December 31, 2010. St. Jude Medical issued communications to medical care providers concerning the Riata lead in December 2010 and November 2011, and, in December 2011, the FDA classified the November 2011 communication as a Class I Recall. It was announced by The Torkzadeh Law Firm and other law firms involved that a confidential settlement has been reached.
The cases have been vigorously litigated by the parties in federal and state courts across the country for the past two years. The attorneys representing the claimants are satisfied with this settlement as it provides resolution of the suits and claims without need for the further expense and uncertainties of litigation.
St. Jude Medical will be paying an estimated maximum of approximately $14,250,000 to fund the settlement. The law firms for the plaintiffs are primarily comprised of The Torkzadeh Law Firm, PLC, Zimmerman Reed, PLLP, Gustafson Gluek, PLLC, and Kershaw, Cutter & Ratinoff, LLP. The defendants are primarily represented by Stinson Leonard Street, LLP, Sidley Austin, LLP, and Mayer Brown, LLP.