Published on Medical Design Technology (https://www.mdtmag.com)

Home > Stryker settles derivatives suits for $1.5M

Stryker settles derivatives suits for $1.5M

Medical device company Stryker agrees to pay $1.5 million in legal fees to settle a pair of derivatives lawsuits.

Stryker

Stryker [1] (NYSE:SYK [2]) agreed to pay $1.5 million in legal fees to settle a pair of derivatives lawsuits filed by shareholders in 2010.

The Kalamazoo, Mich.-based medical device company admitted no wrongdoing in the settlement, but agreed to institute reforms aimed at preventing future regulatory and legal problems.

The lawsuits, filed in the U.S. District Court for Western Michigan, stemmed from a series of problems that afflicted Stryker and its biotech arm. In addition to paying legal fees, Stryker agreed to install a new committee to prevent violations of the False Claims Act [3] and the Foreign Corrupt Practices Act [4], according to court documents.

Content Item Type: 
News [5]
Meta Canonical URL: 
http://www.mdtmag.com/news/2012/09/stryker-settles-derivatives-suits-15m
Summary: 
Medical device company Stryker agrees to pay $1.5 million in legal fees to settle a pair of derivatives lawsuits. Stryker (NYSE:SYK) agreed to pay $1.5 million in legal fees to settle a pair of derivatives lawsuits filed by shareholders in 2010. The Kalamazoo, Mich.-based medical device company admitted no wrongdoing in the settlement, but agreed to institute reforms aimed at preventing future regulatory and legal problems. Legal News, News Wellread more
Contributed Author: 
Mass Device
Legacy NID: 
121 076

Deeper Insights

<% if ( rc.ss_related_image_url != null ){ %>
?cmpid=regwallcontent&utm_source=Deeper%20Insights">">
<% } %>

?cmpid=regwallcontent&utm_source=Deeper%20Insights" + ""><%- rc.label %>

<% if ( rc.ss_search_logo != null ){ %> <% } %>
Advertisement
googletag.cmd.push(function() { googletag.display("dfp-ad-clone_of_wallpaper"); });
(function() { var _fbq = window._fbq || (window._fbq = []); if (!_fbq.loaded) { var fbds = document.createElement('script'); fbds.async = true; fbds.src = '//connect.facebook.net/en_US/fbds.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(fbds, s); _fbq.loaded = true; } _fbq.push(['addPixelId', '745881082149515']); })(); window._fbq = window._fbq || []; window._fbq.push(['track', 'PixelInitialized', {}]);
(function(d,s,i,r) { if (d.getElementById(i)){return;} var n=d.createElement(s),e=d.getElementsByTagName(s)[0]; n.id=i;n.src='//js.hs-analytics.net/analytics/'+(Math.ceil(new Date()/r)*r)+'/1743435.js'; e.parentNode.insertBefore(n, e); })(document,"script","hs-analytics",300000);
var _qevents = _qevents || []; (function() { var elem = document.createElement('script'); elem.src = (document.location.protocol == "https:" ? "https://secure" : "http://edge") + ".quantserve.com/quant.js"; elem.async = true; elem.type = "text/javascript"; var scpt = document.getElementsByTagName('script')[0]; scpt.parentNode.insertBefore(elem, scpt); })(); _qevents.push({ qacct:"p-jsEPJWTckjCbE" });
Quantcast
googletag.cmd.push(function () { googletag.display("dfp-ad-roadblock_modal"); });
googletag.cmd.push(function() { googletag.display("dfp-ad-roadblock_modal"); });
Source URL: https://www.mdtmag.com/news/2012/09/stryker-settles-derivatives-suits-15m

Links
[1] http://www.massdevice.com/company/stryker-corp
[2] http://www.google.com/finance?q=syk
[3] http://www.massdevice.com/news/kickbacks-case-against-stryker-dismissed?page=show
[4] https://www.massdevice.com/news/orthopedic-device-makers-clear-kickback-charges-after-18-months-good-behavior
[5] https://www.mdtmag.com/content-item-types/news