SEC Investigates Medical Device Makers

Law360, New York (October 17, 2007, 12:00 AM EDT) -- Five of the world's largest medical device makers have reportedly become the subject of a U.S. Securities and Exchange Commission investigation into possible violations of the Foreign Corrupt Practices Act, which forbids the bribery of foreign officials.

The Times of London reported on Tuesday that Smith & Nephew PLC, Biomet Inc., Medtronic Inc., Zimmer Holdings Inc. and Stryker Corp. have all been notified by regulators of an “informal inquiry” into their overseas sales procedures.

The SEC probe will center on kickbacks allegedly paid to doctors in...
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