Biomet Magnum Hip MDL Establishes Qualified Settlement Fund, Taps Administrator

SOUTH BEND, Ind. — The judge overseeing the Biomet M2a Magnum hip implant multidistrict litigation has established the plaintiffs’ executive committee settlement fund as a “qualified settlement fund” within the meaning of Treasure Regulation Section 1.468B-1.

On Sept. 19, Judge Robert L. Miller Jr. of the U.S. District Court for the Northern District of Indiana explained that all settlements reached in state or federal Biomet hip litigation shall be paid into the PEC Biomet Qualified Settlement Fund, including payments received from the Biomet Settlement Escrow Account.

“The Defendants shall have no liability with regard to the conduct of the Fund …