WASHINGTON (dpa-AFX) - BD (Becton, Dickinson and Company) (BDX) announced an agreement to resolve the majority of its ongoing hernia litigation. The confidential settlement terms encompass cases from both the consolidated litigation in Rhode Island and the federal multidistrict litigation in Ohio. The total amount payable under this settlement falls within the company's existing product litigation reserve and will be disbursed over several years.
Consequently, this settlement amount has already been recorded as a liability on BD's consolidated balance sheet, and the agreement will not lead to any additional charges on the company's consolidated income statement, BD said.
BD believes the agreement serves the best interests of all parties involved and is designed to eliminate uncertainty for stakeholders concerning the settled cases. The hernia mass tort litigation constitutes a significant portion of BD's total product litigation reserve.
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