Judge Knocks Out Stryker Securities Fraud Class Action

Law360, New York (April 2, 2012, 8:37 PM EDT) -- A Michigan federal judge dismissed a securities fraud class action against Stryker Corp. and two of its officers on Friday, saying Stryker shareholders failed to show anything worse than possible poor management decisions took place at the Kalamazoo, Mich.-based medical device maker.

A Pontiac, Mich., retirement fund and other plaintiffs alleged Stryker artificially boosted its earnings by cutting corners on quality control, then misled investors about its struggles to comply with U.S. Food and Drug Administration regulations while insiders sold their shares in the company....
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