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Stryker will pay $1.5 million to settle derivatives lawsuits filed by shareholders in 2010, according to a Mass Device report.
In addition to the monetary settlement, Stryker has agreed to establish a committee tasked with preventing violations of the False Claims Act and the Foreign Corrupt Practices Act. The shareholder lawsuit stems from previous legal troubles, including Stryker's recalled Trident hip implant and alleged illegal cross-labeling promotion of a bone putty product.
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