A Pennsylvania federal judge on Thursday greenlighted Ortho-Clinical Diagnostics Inc.'s $19.5 million deal to resolve allegations in multidistrict litigation that the former Johnson & Johnson unit conspired with another company to fix prices on the reagents used in blood tests.
In the order, U.S. District Judge Jan E. DuBois preliminarily approved the settlement, finding that it's "sufficiently fair, reasonable and adequate." According to settlement papers, Ortho-Clinical's $19.5 million will be combined with a $22 million settlement that Immucor Inc. agreed to pay to resolve allegations against it, bringing the total settlement fund to $41.5 million.
Under the proposed settlement, class members who purchased the reagent before Jan. 1, 2005, will receive a pro rata share of the fund and those who purchased the product after that date will receive $250. Meanwhile, class counsel plans to ask for 33 percent of the fund, or $13.83 million, for fees and up to $2.75 million in expenses.
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