MDT » Topics » Certain Litigation Charges Recorded - Subsequent Event

This excerpt taken from the MDT 10-K filed Jun 23, 2009.

Certain Litigation Charges Recorded – Subsequent Event

          On June 1, 2009, the U.S. Court of Appeals for the Federal Circuit affirmed a December 2007 ruling of infringement stemming from the Vertex line of multiaxial screws in our litigation with DePuy Spine (formerly DePuy/AcroMed), a subsidiary of Johnson & Johnson (J&J) , and Biedermann Motech GMbH (collectively, DePuy). As a result of the U.S. Court of Appeals’ decision, we recorded a reserve of $178 million which is expected to cover the revised damages award and pre- and post-judgment interest. Since the ruling provided additional evidence about conditions that existed at the balance sheet date, the charge was included in the consolidated financial statements for the fiscal year ended April 24, 2009. See the “Special, Restructuring, Certain Litigation and IPR&D Charges and Certain Tax Adjustments” section of this management’s discussion and analysis and Note 16 to the consolidated financial statements for additional information.

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