Pacemaker Company Offers Settlement

A company has offered $21.53 million to settle a lawsuit filed on behalf of about 3,000 people who say they were injured by defective pacemakers.

U.S. District Judge Walter H. Rice set a hearing for Aug. 24 to determine the fairness of the offer from Cordis Corp. of Miami and TNC Medical Devices, an Australian company that bought Cordis’ pacemaker business eight years ago.

The class action lawsuit consolidated in 1991 claims that more than 30,000 Cordis pacemakers had electrical problems.