A Stryker hip implant settlement has recently been announced by executives at Stryker Orthopaedics and plaintiffs’ attorneys, and it could potentially resolve the majority of the Stryker hip implant lawsuits related to the Rejuvenate and ABG II hip stems filed in the U.S. According to the official Stryker hip implant settlement website, this settlement:
Will specifically be offered to plaintiffs who had to undergo revision surgery to replace their Rejuvenate Modular-Neck hip stems and/or their ABG II Modular-Neck hip stems prior to November 3, 2014;
- Has been the result of an early mediation program, the success of which has been attributed to both New Jersey Superior Court Judge Brian R. Martinotti and the chief mediator, former U.S. Magistrate Judge Diane M. Welsh.
As Bill Huffnagle, President of the Reconstructive Division at Stryker Orthopaedics, has explained, “the health and well-being of patients is Stryker`s top priority… following our voluntary recall and our patient support program for recall related care, this Settlement Program provides patients compensation in a fair, timely and efficient manner.”
Basic Overview of the Stryker Hip Implant Settlement
While the specific terms of the Stryker hip implant settlement are very complicated, here’s what plaintiffs who are being offered this settlement should know:
- Offers a base award of $300,000 for each revised hip implant, which can be reduced or enhanced depending on the age of the patient, the severity of injuries, and the nature of complications.
- While Stryker has estimated that it will end up paying out at least $1.425 billion as part of this settlement program, the costs “will depend on many factors that are difficult to predict and may be materially different than the amounts accrued to date.”
- Most of the payments under the Stryker hip implant settlement program will reportedly be made by the end of 2015.
- People eligible to enter into the Stryker hip implant settlement program do not have to have a lawyer representing them in order to participate in this program, but they are advised to consult their attorney if they do have one prior to taking any action.
- Stryker can back out of the settlement until June 15, 2015 if 95 percent of eligible plaintiff’s do not participate in the settlement.
At Case Funding, we are carefully reviewing the terms of this Stryker hip implant settlement, and we will continue to bring you the details about this settlement offer – as well as other important news related to ongoing hip implant litigation – as this information becomes available. You can review the Stryker hip implant settlement in full here.
Hip Implant Lawsuit Funding at Case Funding
If you or your law firm is litigating any type of hip implant lawsuit and needs financial litigation support, contact Case Funding to learn more about our lawsuit funding services. Based in New York, Case Funding Inc. is one of the largest legal finance companies and an industry leader that provides pre-settlement lawsuit funding to individuals involved in personal injury lawsuits, product liability lawsuits and other litigation throughout the USA.
Case Funding is a subsidiary of a public company with substantial financial resources and operates to the highest ethical, legal and business standards.
Contact Us Today
To find out how we have helped thousands of individuals, and to learn more about our lawsuit funding solutions, call one of our specialists at (800) 543-4043 or submit the contact form on this page for a prompt response.
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