ArthroCare Announces Entry into a Deferred Prosecution Agreement (press release)
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ArthroCare Corp.(NASDAQ: ARTC), a leader in developing state-of-the-art, minimally invasive surgical products, and the U.S. Department of Justice (“DOJ”) entered into a Deferred Prosecution Agreement (“DPA”) filed today with the United States District Court in the Western District of Texas(the Court). The DPA will resolve the ongoing investigation by the DOJ regarding allegations of securities and related fraud committed under a previous management team. The investigation was first announced in December 2008. The facts underlying this agreement relate specifically to matters self-disclosed by ArthroCare to the U.S. Securities and Exchange Commission (“SEC”) and the DOJ, as previously described by ArthroCare in its public press releases andSEC filings.
In conjunction with the DPA, the DOJ concurrently filed a criminal information concerning a single-count of conspiracy to commit wire and securities fraud. The DPA is for a 24 month period and, subject to its successful completion, the DOJ agrees that the DPA will expire and that the D...
