UTMD Updates Status of Filshie Product Liability Lawsuits in the U.S.

SALT LAKE CITY, UT / ACCESSWIRE / August 31, 2023 / As Utah Medical Products, Inc.'s (NASDAQ:UTMD's) stockholders know, the following disclosure was included in the Company's 2022 SEC 10-K annual report, released in March 2023:

"In late 2021, after the Filshie clip had been used in the U.S. for 25 years and implanted in millions of women, a clip migration lawsuit was filed in Texas. Subsequently, the same law firm solicited and recruited claimants in other states. As of the end of January 2023, there were a total of fourteen clip migration lawsuits initiated by the same law firm in twelve different states. UTMD has filed motions to dismiss in most of those lawsuits, one of which has been granted. A dismissal can be appealed, but as of yet hasn't been. Management expects others to be dismissed based on legal grounds such as lack of jurisdiction or U.S. FDA preemption."

UTMD now provides an update on the status and progress of these lawsuits. There were 71 total claimants represented in the fourteen lawsuits referenced above. All of the lawsuits except one were filed in federal courts. The exception was a lawsuit with 50 claimants filed in Utah (UT) State court. The thirteen other lawsuits were comprised of a total 21 claimants. On August 29, the UT state court dismissed the UT complaint with prejudice. Three of the original thirteen federal lawsuits have also been dismissed to date.

However, since the above disclosure, plaintiff law firm has continued to solicit for claimants through social media, and filed additional lawsuits with pleadings substantially the same in all. The court opinions supporting dismissal have been provided as supplemental authority to the other courts with open dismissal motions.

Two additional federal lawsuits and one additional state lawsuit have been filed since the SEC 10-K disclosure. One of the additional federal lawsuits in New York has already been dismissed, for a total of five dismissals. The additional state lawsuit was filed in Connecticut (CT), originally in April with 10 new claimants. The CT lawsuit has been twice updated adding new claimants, most recently this week. The CT lawsuit now has 43 new claimants (and three other claimants whose federal lawsuits were previously dismissed and who have re-filed in CT).

In summary, as of this date, seventeen lawsuits have been filed in fourteen states, with a total of 117 claimants. All except two lawsuits were filed in federal courts. The two state lawsuits were filed in UT and CT, the domiciles of UTMD and CooperSurgical, Inc, respectively. None of the lawsuits have gone to trial yet, and several have motions to dismiss still pending.

As of this date, five lawsuits comprised of fifty-four claimants have been dismissed. There remain twelve lawsuits in eleven states comprised of sixty-three new claimants.

According to CEO Kevin Cornwell,

"UTMD remains committed to defending the decades-long reputation of the Filshie clip System for its excellent safety and effectiveness. We are pleased with our recent victories and look forward to continued success in defeating these meritless claims."

Utah Medical Products, Inc., with particular interest in health care for women and their babies, develops, manufactures and markets a broad range of disposable and reusable specialty medical devices recognized by clinicians in over a hundred countries around the world as the standard for obtaining optimal long-term outcomes for their patients. For more information about Utah Medical Products, Inc., visit UTMD's website atwww.utahmed.com.

CONTACT:
Brian Koopman
(801) 566-1200

SOURCE: Utah Medical Products, Inc.