Defendant Name:
Stryker Corporation
Defendant Type:
Public Company
Document Reference:
2013-229
Document Details
Legal Case Name
In the Matter of Stryker Corporation
Document Name
SEC Charges Stryker Corporation With FCPA Violations
Document Date
24-Oct-2013
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
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.
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order