Defendant Name:
Stryker Corporation
Defendant Type:
Public Company
SIC Code:
3841
CUSIP:
86366710
Document Reference:
34-70751
Document Details
Legal Case Name
In the Matter of Stryker Corporation
Document Name
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
Document Date
24-Oct-2013
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$7,502,635.00
Shared:
Civil Penalty
Individual:
$3,500,000.00
Shared:
Pre-Judgment Interest
Individual:
$2,280,888.00
Shared:
Total Penalty
Individual:
$13,283,523.00
Shared:
