Becton Dickinson Will Settle Pump Defects Suit for $85 Million

Becton, Dickinson & Co. and a class of investors got preliminary approval for an $85 million settlement that would put an end to litigation over the company’s allegedly defective infusion pumps, an order filed Friday says.

Proceedings in the case will be stayed pending final settlement approval, Magistrate Judge Cathy Waldor said in an order filed in US District Court for the District of New Jersey. The company and CEO Tom Polen reached a settlement with shareholders last month in an agreement that would benefit class members who acquired company stock between Nov. 5, 2019 and Feb. 5, 2020 before ...