Stryker Settles FCPA Probe With $13M Payout

Law360, New York (October 24, 2013, 2:10 PM EDT) -- Medical technology firm Stryker Corp. has agreed to pay $13.2 million to settle a U.S. Securities and Exchange Commission suit alleging its subsidiaries bribed public health officials overseas to secure business, a violation of the Foreign Corrupt Practices Act, authorities said Thursday.

The Kalamazoo, Michigan-based company made $2.2 million in illegal payments to foreign government employees between August 2003 and February 2008, according to an SEC administrative order. Stryker recorded the bribes internally as “legitimate consulting and service contracts, travel expenses, charitable donations or commissions,” the...
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