Wednesday, January 20, 2010

More Hot Water for the Almighty Stryker


Robbins Umeda a San Diego, California based law firm specializing in representing investors in shareholder derivatives and securities fraud class actions has filed a lawsuit on behalf of Stryker shareholders that had purchased or acquired Stryker stock between January 25th, 2007 and November 18th, 2008. The lawsuit seeks to recover from Stryker and certain of its officers for damages that the shareholders may have suffered as a result of the officers mismanagement of the Company.

The investigation concerns questionable statements made by the the Company during this time line regarding its business success and profitability as well as whether the Company had cut corners on its operational costs by failing to document and maintain adequate quality controls over its product manufacturing. The violations allegedly entail insider trading whereas the insiders took advantage of their 52 week high of $75 dollars per share split adjusted in November 2007 generating more than $300 million in proceeds prior to the stock's 52% decline to $36.11 on November 20th, 2008. If you would like more information regarding your rights contact Lauren Levi @ 800.350.6003. Looks like there's trouble in paradise or a little trouble in Strykerland. TSB wants to know whether our readers believe there was a little manipulation of the books by the Stryker Mafia. Based on Robbins Umeda's track record and specialty, they love these types of cases.

4 comments:

  1. I don't understand how the suit can claim insider trading taking advantage of 52 week high of $75 dollars per share. A 52% decline is drastic, yes but if I recall correctly the stock tanked at roughly the same time that the rest of the market tanked. The drop in price was due to a lack of consumer confidence, mismanagement of debt on behalf of consumers and the banking industry, and other factors outside of the control of the majority of the companies that had a severe drop in their stock prices.

    Is there any legitimacy to this suit or is this another example of our increasingly litigious society spinning out of control?

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  2. Great point, if its okay for private investors to sell their stock when the market is at its most volatile, why would it be illegal for company employees? I wonder if this is the impetus behind the suit or are they fishing for something else. This law firm is known for taking on this type of litigation. Sometimes one has to wonder if we aren't a society and an industry that is spinning out of control.

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  3. Stryker Latin America is in the process of firing all its distributors in central america and the caribbean because the dysfunctional Stryker Latin America management is incompetent and lazy> Stryker latin America plans to abandon all its distributors, surgeons, hospital, and the people of these countries

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  4. Thanks for the relevent post Latin America.

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