Just before Thanksgiving Day, company director Rhonda Stryker – granddaughter of founder Dr. Homer Stryker – unloaded 14,000 shares of her own stock to the tune of more than $1.04 million. Of course, she still holds $12.3 million in company stock, and her own net worth – like those of her siblings – is in the billions. $1 million in comparison is pocket change. While there was nothing illegal or even unethical about it, given what is going on Stryker lawsuits and other company woes, one must wonder about the timing.
In the meantime, Stryker lawsuits are moving forward. Ten cases in New Jersey have been selected for attempted mediation, but should this fail, “bellwether” trials (test cases to determine how juries will react in cases going forward) will start next year.
Earlier in November, Stryker paid out $13.2 million in order to settle federal charges that the company had violated the Foreign Corrupt Practices Act. The government charged that Stryker had entered what amounted to bribes to doctors in Europe and Latin America into the books as travel expenses and charitable donations. At the same time, Stryker lawsuits may cost the company as much as $1 billion.
Nonetheless, analysts are quite optimistic about the company's future earnings. One firm as raised its rating from “market perform” to “outperform,” while another has predicted the stock will rise over 9%. This comes despite the status of Stryker lawsuits and the potential liability
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