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Endocare Settles Fraud Case With SEC, DOJ

Law360 (July 20, 2006, 12:00 AM EDT) -- Medical-device maker Endocare Inc. has reached a settlement with two federal agencies that puts an end to one accounting fraud investigation and protects the company from criminal prosecution in another.

The company has agreed to pay $750,000 to settle allegations of securities fraud brought by the U.S. Securities and Exchange Commission stemming from a three-year investigation into questionable accounting practices.

The settlement also includes a non-prosecution agreement with the Department of Justice, in which the company agreed to cooperate with a federal investigation into criminal wrongdoing...
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