ArthroCare To Pay $74M To End Stock Inflation Action

Law360, New York (November 28, 2011, 3:44 PM EST) -- ArthroCare Corp. on Monday announced a $74 million settlement with a class of investors who alleged the medical device maker inflated its stock by selling a spinal surgery device to doctors through an illicit scheme involving patient referrals by personal injury lawyers.

The class for the proposed settlement will include all investors who purchased ArthroCare stock between Dec. 11, 2007, and Feb. 18, 2009, who choose to participate, ArthroCare said. Settlement documents had not been filed with the federal district court in Austin, Texas, as of...
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