Summary
Becton, Dickinson and Company (BDX) announced the filing of settlement documents for a class action lawsuit concerning public statements related to its infusion pumps. The company has agreed to a settlement amount of $85 million to resolve all claims against the company and its officers. BD has stated that this amount is adequately reserved and is not material to its consolidated financial results, cash flow, or capital allocation strategies. Importantly, BD and its management deny any wrongdoing and there is no admission of liability in connection with this resolution.
Key Highlights
- 1BDX has reached an $85 million settlement to resolve a class action lawsuit related to its infusion pumps.
- 2The settlement resolves claims against the company and its officers.
- 3BDX states the settlement amount is adequately reserved and not material to its financial results or capital allocation.
- 4The company and its management deny any wrongdoing and there is no admission of liability.
- 5The settlement requires U.S. District Court approval.
- 6This settlement does not resolve currently pending derivative actions.