Sofamor to take $50 million charge for legal costs:
This article was originally published in Clinica
Spinal specialist Sofamor Danek will take a pre-tax charge of $50 million in the fourth quarter to cover the cost of ongoing product liability lawsuits related to the use of pedicle screws. Sofamor is a defendant in around 2,800 individual product liability lawsuits. The company believes the charge represents its best judgement of the probable reasonable costs in excess of available insurance to defend and conclude the lawsuits.