Democrats such as Elizabeth Warren had their eye on business and the working class during the first 2020 presidential primary debate in Miami.2020 Electionsread more
Chinese President Xi Jinping is expected to present U.S. President Donald Trump with the terms it expects the U.S. to meet before Beijing is willing to settle the countries'...World Economyread more
Huawei's legal chief told CNBC that the company makes "solutions for civil use."Technologyread more
The Chinese Ministry of Commerce maintained a firm stance against the U.S. during a weekly press conference on Thursday, less than two days ahead of a scheduled meeting...China Economyread more
Carl Icahn ratcheted up his fight with Occidental Petroleum over its pending purchase of rival Anadarko Petroleum by calling for a special shareholder meeting where he hopes...Energyread more
The issue over health insurance marked the first stark divide among the candidates, and sparked a heated back-and-forth between many of the candidates on stage.Politicsread more
The stock market is shrinking for several key reasons, but there's a way for investors to maneuver it, says Citi Research strategist Robert Buckland.Trading Nationread more
Four candidates mentioned China — but none of the Democratic contenders brought up trade in the debate.Politicsread more
Credit Suisse initiated coverage of Tesla Wednesday with an "underperform" rating and a price target 15% below where the stock closed.Marketsread more
Something unusual is happening in financial markets, and it could mean more gains lie ahead for stocks, if history is any indication.Marketsread more
Waymo has officially expanded its reach and is now making some of its self-driving minivans available for customers of ride-share firm Lyft.Transportationread more
Feb 4 (Reuters) - Johnson & Johnson's DePuy Orthopaedics unit is in settlement talks to resolve the bulk of individual lawsuits alleging the company's metal-on-metal Pinnacle hip implants were defective and caused severe injuries, a lawyer for the plaintiffs said on Monday.
Texas-based plaintiff lawyer Mark Lanier said lawyers for the consumers had talked to the company in recent days to reach an agreement to resolve the long-running litigation that includes more than 10,000 cases.
"It's still not a done deal, but we're getting close," Lanier said, adding that plaintiffs hope to reach a final agreement by the end of the year.
Lanier said it was uncertain at this point how many of the roughly 10,000 Pinnacle lawsuits would be subject to the settlement. He declined further comment.
A spokeswoman for DePuy on Monday declined to comment.
Bloomberg first reported on the settlement talks.
In 2013, DePuy ceased selling the metal-on-metal Pinnacle devices after the U.S. Food and Drug Administration strengthened its artificial hip regulations. The Pinnacle system continues to be sold with other material combinations.
Metal-on-metal hip implants have come under scrutiny over allegations that the products cause a build-up of metal ions in the blood, causing groin pain, allergic reactions, bone erosion and tissue death.
J&J denies those allegations, saying the company acted appropriately and responsibly in the development, testing and marketing of the devices.
Last month, J&J agreed to pay $120 million to resolve deceptive marketing claims by several U.S. states over metal-on-metal hip implants. DePuy said the settlement involved no admission of liability or misconduct on the part of the companies.
J&J to date has faced several federal jury trials over the Pinnacle hip implants. It won the first case in 2014, but lost all subsequent trials, with verdicts ranging from $151 million to $540 million.
J&J has appealed those verdicts.
News of the settlement talks on Monday caused a federal judge overseeing an ongoing Pinnacle trial in Dallas to dismiss the jury in that case. Lanier said that case, involving five Texas plaintiffs, has not been settled yet. (Reporting by Tina Bellon in New York; Editing by Anthony Lin and Rosalba O'Brien)