STORY FROM: Hip & Knee Implant Litigation
Common Benefit Trust Account Established in Pinnacle Hip MDL
July 26, 2019
DALLAS — The judge overseeing the DePuy Pinnacle Hip multidistrict litigation has approved the establishment of a common benefit trust account and appointed Archer Systems LLC as fund administrator.
According to the July 22 order, issued by Judge Ed Kinkeade of the U.S. District Court for the Northern District of New York, the fund will be held at Cadence Bank N.A., which is responsible for all investment-related decisions.
“The fund administrator shall not authorize any distributions of principal from the Fund without further order(s) of this Court,” the order says. “The Fund Administrator is authorized to effect qualified assignments of ...