CPAP Settlement Reached
CPAP Settlement Update- by Attorney Jeff Keiser.
Settlement Reached
Big news in the CPAP case! A settlement has been reached between Philips and plaintiffs seeking personal injury damages for more than $1.1 billion. Philips refused to accept any responsibility for the product’s defects.
This comes on the heels of another settlement in the case, when last September, the parties agreed to $615 million to compensate for economic losses. This is a big deal for plaintiffs, even if the final amount ended up being far less than some estimates. Some experts had estimated between $2-4.5 billion to resolve these claims, and the company’s stock is skyrocketing following the news.
The settlement will apply to certain CPAP, BIPAP and other ventilators recalled by Philips in 2021, and will offer three categories of compensation.
First, plaintiffs will receive an award for each device they purchased. The amount is dependent on the model purchased, ranging between $55.63 and $1,552.25.
Next, plaintiffs will receive $100 for every device they purchased and returned to Philips. It will not matter whether plaintiffs returned the devices before or later, but the devices must be returned by August 9, 2024.
Pre-paid labels are available through the settlement to return the devices to Philips. Finally, they will be eligible for a device replacement award if they purchased a replacement between June 14, 2021 and September 7, 2023.
For those users that have already returned their devices (or do so soon), payment can be sped up through the Accelerated Implementation Option. Here, some additional forms must be submitted, and plaintiffs must waive economic loss damages, but it could be a path to a quick payout.
More information is available at: www.RespironicsCPAP-ELSettlement.com.
The Settlement does not affect or release any claims for personal injuries or medical monitoring relief.
Craig H. Alinder, Vice President