Ortho Firms Face Scrutiny from SECOrtho Firms Face Scrutiny from SEC
The Securities and Exchange Commission is investigating five orthopedics companies for possible violations of the Foreign Corrupt Practices Act, reports the Associated Press. Four of the five -- Biomet, Smith & Nephew, Stryker, and Zimmer -- recently agreed to sanctions from the Department of Justice over questionable arrangements with doctors. The fifth is Medtronic. The Foreign Corrupt Practices Act prohibits U.S. companies from bribing foreign officials to get or keep business.
October 15, 2007
1 Min Read
A Zimmer spokesman does not believe the SEC and DOJ cases are related. All five firms agreed to cooperate with the investigation.
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