Hi, I’m Bill Kershaw. I’m with the firm of Kershaw, Cook & Talley. Our firm is currently talking to quite a few of our clients about participating in the proposed Stryker settlement. Some big questions of the proposed settlement we are getting from client include, “Is it right for me?” “Does it fit my needs?” and “What is the timing of the payment? All these questions concern whether or not someone wants to participate under the settlement. Particularly, many of our clients are in their fifties, sixties, seventies, and eighties. The sooner someone can get their award the better. So, I want to discuss timing of payments under the proposed settlement. There are 2 parts to the settlement: there is the base award and there is the enhancement benefit. The enhancement benefit program is payment for secondary surgeries you had to go through.
With respect to the base payment program, you are going to receive $300,000 for a revision surgery which is the base payment. In order to participate, you have to enroll in the program by March 2, 2015. The defendant will then make the decision of whether or not to participate by June 15, 2015. Then on June 18, the claims processing for all the claims that have been put into the settlement will begin. You can expect your first base award, $300,000, on or around July 15, 2015.
The second part of the program, the enhanced benefit program, will actually begin the day after Stryker makes the decision of whether or not to accept and participate in the program. That is June 16, 2015. So, your lawyer will have to enroll you with respect to whatever enhanced benefits you are seeking. Enhanced benefits are things like re-revision surgery for which you can receive $175,000. Enhanced benefits also include an osteotomy (the stem cut out of your femur), surgery for subsequent infections, hardware removal, dislocation, abductor muscle repair, and more so. All of these will be assessed and the claims processing will take place between June 2015 and 2016. You can expect your first enhanced benefit payment to occur roughly February 2, 2016. Those payments will continue over course of Spring Summer and maybe even Fall of 2016.
Reading this settlement agreement is like reading the internal revenue code. So, if you have any questions, please feel free to call me at the phone number on the screen or go to our website and fill out our online form.