With just over six minutes left in the second period, Sundqvist was left lying in the center zone in severe pain.
It followed a hard tackle from Meier.
The referees reacted immediately and signaled a sending-off, then went to review the situation on video to determine whether the Swiss should receive a match penalty.
However, the decision stopped at a two-minute penalty for cross-checking.
"I think it should be worth more than two minutes," Jörgen Jönsson told Radiosporten during the second period break.
Oliver Ekman-Larsson was also injured and both missed the third period.
Switzerland won the quarter-final 3–1.
