Investors' Fraud Suit Against ArthroCare Trimmed

Law360, New York (July 22, 2010, 2:31 PM EDT) -- A federal judge has pared down a consolidated securities class action against medical device maker ArthroCare Corp. stemming from a 2009 financial restatement in which the company made numerous admissions of wrongdoing.

In response to motions to dismiss filed by the defendants, Judge Sam Sparks of the U.S. District Court for the Western District of Texas narrowed the timeframe for claims against the company and its former top executives and tossed claims against two lower-level officers and the company's outside auditor.

The plaintiffs brought claims on...
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