Stryker Corp. settled a long-running U.S. foreign bribery case, agreeing on Thursday to pay $13.3 million to the Securities and Exchange Commission to resolve the allegations — without admitting or denying them.
The Kalamazoo, Mich.-based medical device company first disclosed in 2007 that the SEC and the U.S. Justice Department had made inquiries regarding possible violations of the Foreign Corrupt Practices Act, which bars the use of bribes to foreign officials to get or keep business. An SEC investigation found that Stryker’s subsidiaries in Argentina, Greece, Mexico, Poland and Romania made about $2.2 million in illicit payments, describing them in company books as legitimate expenses such as charitable donations, service contracts, travel expenses and commissions. The company made about $7.5 million in profit as a result of the payments, the SEC said. “Stryker’s misconduct involved hundreds of improper payments over a number of years during which the company’s internal controls were fatally flawed,” said Andrew Calamari, director of the SEC’s New York office, in a statement. Joe Cooper, the director of communications for Stryker, said in an email the company has enhanced its company-wide anti-corruption compliance program, and was advised that the Justice Department closed its investigation. A Justice Department spokesman declined to comment. The SEC issued an administrative order (pdf) against Stryker requiring the company to pay... |
The companies that make helmets and mouth guards often claim that their own products can reduce players’ risk of a sports-related concussion or lessen the impact of a concussion that does occur. These manufacturers cite “laboratory research” that purports to show one brand is safer than others, and a group of researchers wanted to see if they could verify such claims, according to a summary of a presentation they made Monday at a national meeting of the American Academy of Pediatrics.
The research team, from the University of Wisconsin-Madison and the Medical College of Wisconsin, tracked 1,332 high school football players from 36 schools during the 2012 season. Participating players completed a preseason questionnaire about their injury history and demographic information. Then, as the season progressed, athletic trainers from the schools kept tabs on the incidence and severity of any concussions that occurred.
At the start of the study, 171 of the players — or 13% — told the researchers that they had experienced a sports-related concussion in the previous 12 months. During the 2012 football season, an additional 116 concussions were sustained by 115 players — 8.6% of the student athletes in the study.
When the researchers compared...
The research team, from the University of Wisconsin-Madison and the Medical College of Wisconsin, tracked 1,332 high school football players from 36 schools during the 2012 season. Participating players completed a preseason questionnaire about their injury history and demographic information. Then, as the season progressed, athletic trainers from the schools kept tabs on the incidence and severity of any concussions that occurred.
At the start of the study, 171 of the players — or 13% — told the researchers that they had experienced a sports-related concussion in the previous 12 months. During the 2012 football season, an additional 116 concussions were sustained by 115 players — 8.6% of the student athletes in the study.
When the researchers compared...
