RADNOR, Pa., April 07, 2022 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Stryker Corporation (NYSE: SYK) (Stryker).
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 were down over 4% in early morning trading on April 6, 2022.
If you are a Stryker investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or E-mail at info@ktmc.com. You can also click on the following link or paste it in your browser: https://www.ktmc.com/stryker-corporation-investigation?utm_source=PR&utm_medium=link&utm_campaign=stryker
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com
