JURY CONVICTS FORMER ARTHROCARE CEO AND CFO (Orthopedics This Week)
Michael Baker and Michael Gluk have been found guilty of fraud by a federal jury in Austin, Texas, for their part in ArthroCare Corp. shareholders losing over $400 million in value in 2008.
Baker was immediately taken into custody, pending sentencing.
Fraud and False Statements
Baker, the former company CEO, and Gluk, the former CFO, were convicted on June 2, 2014, for artificially inflating sales and revenue numbers to meet company sales projections. Specifically, Baker was found guilty of conspiracy to commit wire and securi...
