Stryker (NYSE:SYK) and Zimmer (NYSE:ZMH) reportedly put to rest a bitter lawsuit filed by Stryker that accused its orthopedics rival of poaching employees and stealing trade secrets.
According to MassDevice.com, a trial in the case was slated to begin yesterday in the U.S. District Court for New Jersey, but lawyers for the medical device companies came to an agreement Oct. 4.
The terms of the deal are confidential, Zimmer attorney Troy Brown told the website.
The agreement ends a case that saw its share of bitter exchanges between the parties. The accusations flew fast and furious in August 2011, according to court documents, with each side labeling the other’s positions as variously “ludicrous,” “frivolous,” “premature,” “just another attempt to waste this court’s and Stryker’s time,” “material misrepresentation of fact,” “blatant gamesmanship” and once again “ludicrous.”
Source: Mass Device