Stryker Corporation (SYK) Offers Justice Dept. $33 Million to End Knee Devices Probe

6/6/2012 9:12:26 AM

Orthopedic implant maker Stryker Corp said it will take a charge of $33 million in the second quarter for an expected settlement of a U.S. Department of Justice investigation into one of its artificial knee devices. The charge, which is Stryker's estimate of what it will cost to settle the probe into marketing practices concerning its OtisKnee device, is expected to reduce its reported diluted earnings per share by about 9 cents in the second quarter, Stryker said. The Kalamazoo, Michigan-based company said it will exclude the charge from its adjusted earnings per share.

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