Attorney Richard Heimann explains the purpose of the national class action. Richard Heimann discusses what Lieff Cabraser will be looking for in its investigation of Sulzer. In product liability cases, for example, this standard is met only if it can be shown that the manufacturer had actual knowledge of a product's defect before placing it on the market and knew that injuries could occur through the product's use. In short, a defendant must have had specific knowledge of a product's defect and its potential for harm in order for an award of punitive damages to be appropriate. Within the medical device industry, a manufacturer cannot just withdraw a product from the market at the first notice of a loosening.
Thorough investigations are necessary to avoid jumping to conclusions.
In my opinion, Sulzer Orthopedics' handling of this issue is an outstanding example of a company's acting quickly and responsibly. Headquartered in Winterthur, Switzerland, Sulzer Medica develops, manufactures and markets implantable medical devices and biological products for cardiovascular and orthopedic markets worldwide. The Company's product offering includes joint prostheses, spinal implants, dental implants, trauma surgery products, heart valves, and vascular grafts. This report contains forward-looking statements including, but not limited to, projections of future performance of materials and products, financial conditions, results of operations and cash flows, containing risks and uncertainties. These statements are subject to change based on known risks detailed from time to time in the Company's Securities and Exchange Commission filings and other known and unknown risks and various other factors which could cause the actual results or performance to differ materially from the statements made herein.