Arthrocare Corp. (MM) (ARTC) News

ARTC: former CFO, Michael Gluk, sentenced to 50 months imprisonment in a federal penitentiary and ordered to forfeit $677,804 and to pay a fine of $50,000.

https://www.sec.gov/litigation/admin/2018/34-84628.pdf

I am done posting here. Have a nice day and I hope the truth will set those honest people free. GLTA.

ArthroCare signs deal to end fraud prosecution, to pay $30 mln fine

Tue, Jan 7 2014
http://www.reuters.com/article/2014/01/08/arthrocare-fraud-idUSL3N0KH4NX20140108

Jan 7 (Reuters) - ArthroCare Corp said it signed an agreement with the U.S. Department of Justice to resolve a six-year long investigation regarding allegations of securities and related fraud committed under a previous management team.

Under a deferred prosecution agreement, ArthroCare will pay a $30 million fine and maintain a compliance program meeting certain criteria over a 24-month period.

A deferred prosecution agreement allows a company to avoid possible criminal charges by fulfilling certain conditions that will eventually lead to the dismissal of the case.

Shares of ArthroCare, a maker of surgical devices, rose 11 percent to $45 in extended trading. They closed at $40.58 on the Nasdaq on Tuesday.

Jefferies & Co analyst Raj Denhoy said the resolution of the investigation with just a fine and no ongoing scrutiny was seen as a positive outcome.

Denhoy said the Austin, Texas-based company, by clearing its final legal hurdle, had also made itself more attractive to potential buyers.

The DOJ had in July charged former Chief Executive Michael Baker and ex-Chief Financial Officer Michael Gluk with a $400 million scheme to defraud investors by inflating the company's earnings.

Prosecutors had claimed the company, inflated earnings by shipping extra products to its distributors at the end of financial quarters, even though the shipments were not for actual orders, so ArthroCare could count the shipments as sales and meet earnings forecasts.

http://www.reuters.com/article/2014/01/08/arthrocare-fraud-idUSL3N0KH4NX20140108

very nice. Going up. Floor 29 please.

Yo MACD, i'm in this one as well from earlier this week snagged some 24.90s the 21st. Hope all is well sir, let's see this baby try and fill some of that gap. Cheers mate!

ARTC

~ Monday! $ARTC ~ Earnings posted, pending or coming soon! In Charts and Links Below!

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ArthroCare Corporation (ArthroCare) is a medical device company, which develops, manufactures and markets surgical products, which are based on its patented Coblation technology. The Company’s business consists of two product areas: Sports Medicine, and Ear Nose and Throat (ENT). It also manufactures and sells products based on its technology for other procedures, such as certain spine procedures. It’s Sports Medicine, ENT and Other products are marketed and sold through two principal geographic distribution channels: Americas (North and South America) and International (all other geographies). Many of its products are based on Coblation technology, which uses bipolar radiofrequency energy to generate a focused plasma field to remove and shape soft tissues, such as cartilage and tendons. Its bipolar Coblation devices also include both an active and return electrode at the tip but and apply electrical energy in a conductive medium at the surgical site.

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