It was announced today that Robbins Umeda LLP will formally investigate Stryker Corporation for possible mismanagement.
“Robbins Umeda LLP’s investigation of Stryker concerns questionable statements issued by the Company between January 25, 2007 and November 13, 2008, regarding its business success and profitability as well as whether the Company cut corners on its operational costs by failing to document and maintain adequate quality controls over the products it manufactured. Company insiders took advantage of the stock’s 52-week high of $75 per share (split-adjusted) in November 2007, when they sold their personally-held shares generating more than $300 million in proceeds prior to the stock’s 52% decline to $36.11 on November 20, 2008.”
So the question is was this truly mismanagement, insider manipulation or another example of abusing the legal system because someone thinks it is unfair that the executives of Stryker made so much money by selling their stock at the right time?
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Categories: Breaking News