Settlement Agreement Reached in the Canadian Cook IVC Filter Class Action

LONDON, ON, March 29, 2024 /CNW/ - A Canada-wide Settlement Agreement was recently reached in a class action against Cook (Canada) Inc., Cook Incorporated, and William Cook Europe APS ("Cook") related to certain inferior vena cava filter products ("IVC Filter Products") marketed and sold by Cook (Canada) Inc., Cook Incorporated, and William Cook Europe APS ("Cook").

IVC filters are devices designed to filter blood clots which may otherwise travel to the heart and/or lungs. Optionally retrievable IVC filters are a type of filter that may be removed if medically advisable to do so after a patient is no longer at risk of a pulmonary embolism.

The Class Action alleges that Cook marketed and sold IVC Filter Products without properly warning of the alleged increased risks of complications and injuries. Cook denies the allegations and all liability whatsoever, and the Court did not come to a decision as to who was right.

Proposed Settlement

The proposed Settlement applies to every person who is or was a resident of Canada who was implanted with a Cook IVC Filter Product at any time on or before January 8, 2020, which was manufactured, marketed and/or sold or otherwise placed into the stream of commerce in Canada by Cook, and their family members. For greater certainty, the residency requirement for class membership relates to the time of the placement of the Cook IVC Filter Product.  Primary Class Members must have had a Cook IVC Filter Product placed in Canada but are not required to reside in Canada at present. You can no longer opt out of the Class Action.

Under the Settlement, Cook will provide a claims-made settlement of up to (a) $54,000 CAD for each Qualifying Fracture Claimant, (b) $81,000 CAD for each Qualifying Death Claimant, and (c) $169,500 CAD for each Qualifying Open Surgery Claimant, with a pro rata reduction of the amount of each payment to the extent that the total amount of the claims in categories (a), (b) and (c) above exceed $4,062,720 CAD.  Also, a payment in the amount of $2,708,480 CAD will be made for Class Counsel to pay costs, including administration costs, notice plan costs, class counsel fees, interest, applicable taxes, and certain other qualified claims as provided in the Settlement Agreement. The final value of the compensation will not be determined until the end of the claim period.

For complete details regarding the proposed Settlement, including details on the fees and disbursements Class Counsel are seeking, please consult the notice available at www.ivcsettlement.ca, in English  and fr.ivcsettlement.ca, in French. Information related to the proceeding is also accessible at www.ivcsettlement.ca.

Court Approval

The proposed Settlement must be approved by the Ontario Superior Court of Justice before it becomes effective. A hearing to approve the Settlement will be held on May 17, 2024 at 10:00 AM ET, during which the Court will consider whether the proposed Settlement, the proposed method for distributing the Settlement, and Class Counsel's fees and disbursements are each fair and reasonable and should be approved. Those interested in attending may visit www.ivcsettlement.ca to find out how the hearing will be conducted.

You can object to the proposed Settlement, the method of distributing the Settlement, or Class Counsel fees and attend the hearing to present that objection. Objections must be submitted in writing to Class Counsel on or before May 3, 2024. Class Counsel will file all objections with the Court. You may also attend the hearing to make oral submissions.

For more information about the Class Action, your rights, and how to exercise your rights, please visit Class Counsel's websites at www.siskinds.com, www.mckenzielake.com, www.merchantlaw.com, kmlaw.ca, or contact as follows:

SOURCE Siskinds LLP