Settlement administrator reports proposed class settlement in Philips CPAP case

A proposed Settlement of Economic Loss Claims has been reached in a U.S. class action lawsuit against Defendants Philips RS North America LLC, Koninklijke Philips N.V., Philips North America LLC, Philips Holding USA, Inc., and Philips RS North America Holding Corporation, related to CPAP, BiPAP and ventilator devices sold in the United States between 2008 and 2021 that Philips RS recalled beginning in June 2021, settlement administrator Angeion Group announced. Plaintiffs in this lawsuit allege that the particular type of noise-reducing foam used in the recalled devices was defective. The settlement is intended to resolve Economic Loss Claims only and does not affect or release any claims for personal injuries or medical monitoring relief. The Philips Defendants have agreed to pay a minimum of $445M to eligible users who qualify for Device Payment Awards and Device Return Awards. To the extent this amount is not sufficient to pay all Device Payment Awards and Device Return Awards required by the settlement, the Philips Defendants will make additional payments to pay all eligible users who qualify for those payments under the settlement. The Philips Defendants will also pay users up to an additional $15M for Device Replacement Awards. The Philips Defendants have agreed to pay $34M for Payer Awards to eligible Payers. The Court will hold a Final Approval Hearing on April 11, to decide whether to approve the Settlement, the motion for attorneys’ fees and costs, and how much the Settlement Class Representatives should receive in Service Awards, Angeion Group reported.