Stryker Corporation (NYSE:SYK)
MURRAY, FRANK & SAILER LLP is investigating securities fraud claims against Stryker Corporation ("Stryker" or the "Company") (NYSE:SYK) and certain of its executives and officers, on behalf of purchasers of Stryker securities between January 25, 2007 and November 13, 2008, inclusive (the "Class Period").
It is alleged that during the Class Period, 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 accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that defendants violated federal regulations regarding the manufacture of medical devices, subjected Stryker to unnecessary risks of sales disruptions, lower revenues and product liabilities due to product recall, and 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.
After the November 13, 2008 Credit Suisse Healthcare Conference when Stryker revealed that it was still losing revenues and customers as a result of a January 2008 hip product recall, the value of Stryker's stock declined 23%, closing at $36.11 per share on November 20, 2008.
If you purchased Stryker securities within the Class Period, you may move the Court, not later than March 16, 2010, to serve as Lead Plaintiff for the class. A Lead Plaintiff is a representative chosen by the Court who acts on behalf of other class members in directing the litigation. You do not need to be a Lead Plaintiff to be included in the class. If you purchased Stryker securities and wish to discuss this litigation, or have any questions concerning this notice or your rights or interests with respect to these matters, please contact us.
MURRAY, FRANK & SAILER LLP