SOURCE: Brower Piven, A Professional Corporation

January 22, 2010 10:23 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $500,000 From Investment in Stryker Corporation to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the March 16, 2010 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - January 22, 2010) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Stryker Corporation ("Stryker" or the "Company") (NYSE: SYK) during the period between January 25, 2007 and November 13, 2008, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than March 16, 2010 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff. You may contact Brower Piven (through hoffman@browerpiven.com or 410/415-6616) to answer any questions you may have in that regard.

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 accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that defendants violated federal regulations regarding the manufacture of medical devices, subjected Stryker to unnecessary risks of sales disruptions, lower revenues and product liabilities due to product recall, and 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.

According to the complaint, after an investor conference on November 13, 2008 hosted by Credit Suisse when Stryker revealed that it was still losing revenues and customers as a result of a January 2008 hip product recall, the value of Stryker's stock declined significantly.

If you have suffered a net loss for all transactions in Stryker Corporation common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    410/415-6616
    Email Contact