Stryker Corporation Former Employee investigation
PR Log (Press Release) – Feb 08, 2010 – An investigation on behalf of former and current employees of Stryker Corporation (Public, NYSE:SYK) concerning potential Employee Retirement Income Security Act (“ERISA”) Breach of Fiduciary Duty was announced.
If you a former or current employee or are a member of any of Stryker’s investment plans or profit sharing retirement plans and purchased or held Stryker Corporation (Public, NYSE:SYK) shares or have information relating to this investigation, you should contact the Shareholders Foundation, Inc. at:
Email: mail@shareholdersfoundation.com or at: +1 (858) 779 – 1554
Stryker Corporation (SYK) has been accused of securities fraud and according to an investigation by a law firm under ERISA employees (former and current) of Stryker Corporation (Public, NYSE:SYK) may be eligible to file a ERISA complaint for putting stock options at risk if they can prove their employer violated its fiduciary duty to them.
An investor in Stryker Corporation (Public, NYSE:SYK) filed a lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Stryker Corporation (NYSE:SYK) between January 25, 2007 and November 13, 2008 alleging that Stryker and certain of its officers and executives violated the Securities Exchange Act of 1934 by failing between January 25, 2007 and November 13, 2008, to disclose material adverse facts about its true financial condition, business and prospects. Stryker Corporation reported in 2007 Total Revenue of $6.0005billion with a Net Income of $1.147.80million and in 2008 Total Revenue $6.7182billion with a Net Income of $986.7million.
Shares of Stryker Corporation (SYK) traded recently at $56.03 per share, down from $66.89 per share in Aug 08, $72.26 per share in Jan 08, and almost $76 per share in 2007. Then on November 13, 2008, during an investor conference hosted by Credit Suisse, Stryker announced that it was still losing revenues and customers as a result of a January 2008 hip product recall. Following these statements Stryker common declined 23% closing at $36.11 per share on November 20, 2008.
Those who are former or current employees or are members of any of Stryker’s investment plans or profit sharing retirement plans and purchased or held Stryker Corporation (Public, NYSE:SYK) shares or have information relating to this investigation, you should contact the Shareholders Foundation, Inc. at:
mail@shareholdersfoundation.com or at: +1 (858) 779 – 1554
Updated 02-09-2010
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