We represented a developer and manufacturer of surgical devices and implants in a five-year Department of Justice securities fraud investigation concerning allegations that senior executives defrauded investors. The company entered into a deferred prosecution agreement and agreed to pay $30 million to resolve the investigation. Through extensive cooperation and remedial efforts, the company obtained a substantial reduction from the fine that could have been imposed under the U.S. Sentencing Guidelines, and the Department of Justice did not require the appointment of an independent monitor.
Representation of Surgical Device and Implant Manufacturer: United States v. ArthroCare Corp. (W.D. Tex.)
Representation of Surgical Device and Implant Manufacturer: United States v. ArthroCare Corp. (W.D. Tex.)
We represented a developer and manufacturer of surgical devices and implants in a five-year Department of Justice securities fraud investigation concerning allegations that senior executives defrauded investors. The company entered into a deferred prosecution agreement and agreed to pay $30 million to resolve the investigation. Through extensive cooperation and remedial efforts, the company obtained a substantial reduction from the fine that could have been imposed under the U.S. Sentencing Guidelines, and the Department of Justice did not require the appointment of an independent monitor.