The company has agreed to pay US$2.47b over its recalled hip implants and the total bill could rise to US$4b. About 8,000 suits are likely to be covered in the settlement. This is the second multi-billion dollar award it has agreed to in a month, following its US$2.2b agreement to settle criminal and civil investigations regarding its marketing of certain medicines. In the banking world, JP Morgan has just agreed a US$13b settlement with various US authorities. Source: Bloomberg Law