Defendant Name: Stryker Corporation

Defendant Type: Public Company
SIC Code: 3841
CUSIP: 86366710

Initial Case Details

Legal Case Name In the Matter of Stryker Corporation
First Document Date 24-Oct-2013
Initial Filing Format Administrative Action
File Number 3-15587
Allegation Type Foreign Corrupt Practices Act

Violations Alleged

Exchange Act
Sec 13(b)(2)(A)
Sec 13(b)(2)(B)


First Resolution Date 24-Oct-2013
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-70751 24-Oct-2013 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On October 24, 2013, the SEC filed settled administrative proceedings against Stryker Corporation. According to the SEC:" From approximately August 2003 to February 2008 (the 'relevant period'), Stryker made approximately $2.2 million in unlawful payments to various government employees including public health care professionals (collectively, the 'foreign officials') in Mexico, Poland, Romania, Argentina, and Greece. Stryker incorrectly described these expenses in the company's books and records as legitimate consulting and service contracts, travel expenses, charitable donations, or commissions, when in fact the payments were improperly made by Stryker to obtain or retain business. Stryker earned approximately $7.5 million in illicit profits as a result of these payments."
2013-229 24-Oct-2013 Press Release--Administrative Proceeding
SEC Charges Stryker Corporation With FCPA Violations
On October 24, 2013, the SEC announced that it charged Michigan-based medical technology company Stryker Corporation with violating the Foreign Corrupt Practices Act when subsidiaries in five different countries bribed doctors, healthcare professionals, and other government-employed officials in order to obtain or retain business. According to the SEC's order instituting settled administrative proceedings, Stryker Corporation's subsidiaries in Argentina, Greece, Mexico, Poland, and Romania made illicit payments totaling approximately $2.2 million that were incorrectly described as legitimate expenses in the company's books and records. Stryker has agreed to pay more than $13.2 million to settle the SEC's charges.