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PainCare Settles Class Action

Law360 (October 11, 2006, 12:00 AM EDT) -- Health care company PainCare Holdings Inc. agreed to settle a shareholder lawsuit on Wednesday, bringing a pain-free end to the legal battle that resulted from a restatement of the company’s financial results earlier this year.

PainCare announced in March that it would restate its financial statements for time periods including the five fiscal years from Dec. 31, 2000 to Dec. 31, 2005 and the spring, summer and fall quarters of 2005 after a U.S. Securities and Exchange Commission investigation revealed inconsistencies.

Shortly after the announcement, a...
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