NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Stryker Corporation (“Stryker” or the “Company”) (NYSE: SYK) on behalf of Stryker stockholders. Our investigation concerns whether Stryker has violated the federal securities laws and/or engaged in other unlawful business practices.
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Stryker is a medical technology company that operates through two segments: MedSurg and Neurotechnology and Orthopedics and Spine.
On April 6, 2022, Spruce Point Capital Management (Spruce Point) published a report alleging that Stryker has failed to disclose certain material facts to investors concerning its operations. Specifically, Spruce Point stated that it "Finds Evidence That Stryker Has Failed to Disclose Inventory Accounting Challenges and Made Various Changes to Accounting Policies Designed to Flatter Its Performance, Using Greater Non-GAAP Adjustments to Portray Margin Stability and Earnings Growth.” Additionally, the report indicated among other things, that Stryker has concealed from investors that its true exposure to elective procedures adversely impacted by the COVID-19 pandemic was 50% of sales; that a critical ERP project to unify over 40 systems failed miserably; and that critical materials inventory continues to be hampered by supply chain challenges and inflationary pressures.
Following this news, the price of Stryker shares was down over 4% in earlymorning trading on April 6, 2022.
If you purchased or otherwise acquired Stryker shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.