Stryker Pays $1.5M To End Investors’ Kickback, FCA Suits

Law360, New York (September 21, 2012, 2:23 PM EDT) -- Medical technology company Stryker Corp. has agreed to pay $1.5 million and beef up its corporate governance policies to end shareholder litigation stemming from alleged False Claims Act and foreign kickback schemes, according to settlement papers filed Thursday in Michigan federal court.

Plaintiffs in two consolidated suits asked a federal judge to approve the settlement, which calls for Stryker to pay for $1.5 million in plaintiffs’ attorneys’ fees and set up a new oversight committee to combat violations of the FCA and Foreign Corrupt Practices Act,...
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