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. Meanwhile an investigation on behalf of current long term shareholders in Stryker Corporation (NYSE:SYK) concerning possible mismanagement was announced.
If you are a current long term investor in common stock of Stryker Corporation (NYSE:SYK), you have certain options you should contact the Shareholders Foundation, Inc at:
mail@shareholdersfoundation.com or at: +1 (858) 779 – 1554
A Stryker Corporation investor has filed a lawsuit in the United States District Court for the Southern District of New York 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, located in Kalamazoo, MI, is a medical technology company with a range of products in orthopaedics and a presence in other medical specialties. The Company's products include implants used in joint replacement, trauma, craniomaxillofacial and spinal surgeries; biologics; surgical, neurologic, ear, nose and throat and interventional pain equipment; endoscopic, surgical navigation, communications and digital imaging systems; as well as patient handling and emergency medical equipment. 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.
Source: http://www.prlog.org/10527773-stryker-corporation-long-term-investor-alert-investigation.html
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