Stryker FCPA Claim Settled

Posted On Monday, October 28, 2013

Stryker and the U.S. Securities and Exchange Commission settled on a SEC suit for $13.2 million.  The SEC suit alleges that Stryker made approximately $2.2 million in illegal payments to foreign government employees in Mexico, Poland, Romania, Argentina, and Greece over a five year period, from 2003 into 2008.

The SEC notified Stryker of its investigation in 2007.  Since then, according to the SEC, Stryker cooperated extensively in the government investigation, providing voluminous correspondence and documents, conducting its own internal investigation, and implementing significant changes to its FCPA compliance plan and policies.  The DOJ closed its parallel investigation.