| Company: | Stryker Corporation |
| Ticker Symbol: | SYK |
| Class Period: | Jan-25-07 to Nov-13-08 |
| Date Filed: | Jan-19-10 |
| Lead Plaintiff Deadline: | Mar-20-10 |
| Court: | Southern District of New York |
| Allegations: | |
The Complaint charges that Stryker, a medical technology company, and certain of its executives and officers violated federal securities laws by failing to disclose material adverse facts about the Company's true financial condition, business and prospects. Specifically, the Complaint alleges that defendants: i) violated federal regulations regarding the manufacture of medical devices; ii) subjected Stryker to unnecessary risks of sales disruptions, lower revenues and product liabilities due to product recalls; and iii) hid hundreds of millions of dollars of additional compliance costs both prior to and during the Class Period, allowing defendants to falsely report and/or project 20%+ earnings growth for Stryker during 2006, 2007 and 2008.
On November 13, 2008, during an investor conference hosted by Credit Suisse, Stryker revealed that it was still losing revenues and customers as a result of a January 2008 hip product recall. Following these statements Stryker stock declined 23% closing at $36.11 per share on November 20, 2008.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
