SOURCE: Izard Nobel LLP

January 15, 2010 18:52 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Stryker Corporation

WEST HARTFORD, CT--(Marketwire - January 15, 2010) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased the common stock of Stryker Corporation ("Stryker" or the "Company") (NYSE: SYK) between January 25, 2007 and November 13, 2008, inclusive (the "Class Period").

The Complaint charges that Stryker, a medical technology company, and certain of its executives and officers violated federal securities laws by failing to disclose material adverse facts about the Company's true financial condition, business and prospects. Specifically, the Complaint alleges that defendants: i) violated federal regulations regarding the manufacture of medical devices; ii) subjected Stryker to unnecessary risks of sales disruptions, lower revenues and product liabilities due to product recalls; and iii) hid hundreds of millions of dollars of additional compliance costs both prior to and during the Class Period, allowing defendants to falsely report and/or project 20%+ earnings growth for Stryker during 2006, 2007 and 2008.

On November 13, 2008, during an investor conference hosted by Credit Suisse, Stryker revealed that it was still losing revenues and customers as a result of a January 2008 hip product recall. Following these statements Stryker stock declined 23% closing at $36.11 per share on November 20, 2008.

If you are a member of the class, you may, no later than March 16, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit:, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: For more information about class action cases in general, please visit our website:

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