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.
Wednesday, January 20, 2010
More Hot Water for the Almighty Stryker
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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.
ReplyDeleteIs there any legitimacy to this suit or is this another example of our increasingly litigious society spinning out of control?
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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ReplyDeleteThanks for the relevent post Latin America.
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