Stryker Offers $33M To End DOJ Probe Into Knee Product

Law360, New York (June 06, 2012, 3:50 PM ET) -- Stryker Corp. on Tuesday announced a potential settlement of $33 million to resolve issues raised by the U.S. Department of Justice over the marketing of its replacement knee product, OtisKnee.

The Michigan-based medical technology manufacturer said it received a subpoena from the DOJ in 2010 concerning allegations of federal law violations in its sale and marketing of a device that had not been cleared by the U.S. Food and Drug Administration. It subsequently entered discussions with the DOJ and presented the settlement offer last week....
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