We are investigating whether Stryker Corporation (NYSE: SYK) (“Stryker”) has violated federal securities laws. If you suffered losses as a result of today’s drop in the price of SYK, and have questions about your legal rights, please contact us via the form below to discuss your options at no charge.
Why is there an investigation?
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, including covering up inventory accounting problems.
In particular, based in part on interviews with former Stryker employees, Spruce Point alleges 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.
In reaction to the Spruce Point report, the price of Stryker stock has opened down nearly 3.0% in early trading on April 6, 2022.