$6.1 Billion Global Settlement Value for 3M MDL 2885 with Jennifer Hoekstra
Release Date: 09/15/2023
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info_outlineMark York engages in a comprehensive discussion with Jennifer Hoekstra, the lead counsel in the 3M earplugs litigation. Together, they break down the momentous $6.01 billion global resolution, shedding light on various aspects of this significant legal milestone.
Jennifer Hoekstra begins by highlighting the global resolution's key features. She emphasizes that this resolution encompasses Minnesota filed cases, MDL filed cases, remand wave cases, and even the Bellwether verdicts. Notably, this means that appeals will also be resolved as part of this resolution. Jennifer shares her satisfaction with reaching this resolution only 15 months after the litigation went into bankruptcy, especially considering it's nearly six times what 3M initially set aside for these claims.
Mark York and Jennifer address a crucial question: "How much is my case worth?" Jennifer explains that the settlement offers a five-year payout process with two different tracks for claimants to choose from. The registration and election process for these tracks will happen within the next 90 to 120 days, providing clarity on when individuals will be paid and the value of their injury claims. The settlement's flexibility allows claimants to opt for expedited payments or a deferred review process, where experts analyze their cases for potentially higher payouts.
Another pivotal aspect of this settlement is the resolution of liens. Jennifer highlights their extensive work on resolving liens since 2019 and reveals that the VA is waiving all liens in the litigation, ensuring a swift and straightforward lien process for most individuals involved.
Jennifer also discusses the settlement's administration by Archer and their direct communication with claimants. This process is aimed at providing transparency and clarity for all parties involved.
Mark York inquires about attrition, and Jennifer explains that the identification process is carefully managed by Brown Greer to ensure all cases are accounted for. Archer will then handle communication directly with the clients and plaintiffs' counsel, offering a robust and transparent system.
Jennifer emphasizes that this settlement is a resounding success, acknowledging the challenges faced during the litigation, including PTSD exacerbation claims and the traumatic nature of the hearing loss suffered by veterans. The settlement ensures certainty for all involved parties, including remand cases.
In closing, Jennifer highlights a recent two-and-a-half-hour hearing with Judge Rogers and invites counsel to access the recording on the Northern District of Florida's website for more insights. She encourages anyone with questions to reach out to her office for further information.
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