Stryker Corporation to Pay $13.2 Million to Settle Charges Related to Violations of the Foreign Corrupt Practices Act
Published: Oct 25, 2013
An investigation by federal authorities found that Stryker Corp. subsidiaries in five foreign countries made illicit payments and tried for several years to bribe doctors, health care professionals and government-employed officials in order to obtain or retain business. Stryker has agreed to pay more than $13.2 million to settle the charges. The SEC charged the Kalamazoo-based medical technologies company with violating the Foreign Corrupt Practices Act, alleging that its subsidiaries in Argentina, Greece, Mexico, Poland and Romania made illicit payments totaling approximately $2.2 million "that were incorrectly described as legitimate expenses in the company’s books and records."
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