An investigation for investors in Stryker Corporation (NYSE:SYK) shares over potential securities laws violations by Stryker was announced.
San Diego, CA -- (SBWIRE) -- 09/05/2017 -- Stryker Corporation is under investigation over potential securities laws violations. The investigation was announced on behalf of investors of Stryker Corporation in connection with certain financial statements made by Stryker Corporation.
Investors who purchased shares of Stryker Corporation (NYSE:SYK), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Stryker Corporation (NYSE:SYK) concerning whether certain statements by Stryker Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Portage, MI based Stryker Corporation is a medical technology company. Stryker Corporation reported that its annual Total Revenue rose from over $9.94 billion in 2015 to over $11.32 billion in 2016 and that its Net Income rose from over $1.43 billion in 2015 to over $1.64 billion in 2016.
On August 23, 2017, Stryker Corporation announced that it informed the U.S. Food & Drug Administration ("FDA") of a voluntary product recall involving specific lots of its Oral Care products distributed between July 2015 and August 2017. Stryker's recall followed a warning letter from the FDA received on July 17, 2017, which described a potential for cross-contamination of Oral Care products manufactured by a third party on equipment shared with non-pharmaceutical products. After receiving reports of minor irritation and allergic reaction, the Company discontinued its business relationship with the third-party supplier.
Based on the estimated impact of the foregoing issues on sales and operating income, Stryker Corporation advised investors that the Company now expects full-year organic sales growth and adjusted net earnings per diluted share to be at the lower end of its previously stated ranges of 6.5% to 7.0% and $6.45 to $6.55, respectively.
Shares of Stryker Corporation (NYSE:SYK) declined to as low as $137.70 per share on August 23, 2017.
On September 1, 2017, NYSE:SYK shares closed at $141.09 per share.
Those who purchased shares of Stryker Corporation (NYSE:SYK) have certain options and should contact the Shareholders Foundation.
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