Ann: J&J/Ethicon Mesh Class Actions Update, page-19

Hmmm, very sober reading. I’m not sure I would like to be the CFO of SHJ or the auditor. Just what does this decision do to the presumed asset value of WIP and costs paid on behalf of clients. Plus the presentation of the accounts. FY23 won’t be pretty, nor FY24 as they try and right size. Can’t wait to see the FY23 results and specifically cash reserves and ability to borrow so as to see if there is a way forward. Also SHJ will cop some negative publicity when the implications are better understood. Surely other claimants of class actions past, ongoing and considering will be thinking about the costs of their individual matters.
ironically, there are no winners in this Ethicon matter and the perpetrator of the fiasco might be thinking they have lost less than they should have, whilst shooting the sheriff (SHJ) in the foot in the process.