ArthroCare Corporation agreed to pay $30 million and entered into a deferred prosecution agreement to end a five-year U.S. Department of Justice (DOJ) securities fraud investigation into whether senior executives defrauded investors. The $30 million represented an almost 50% reduction of the amount of fine that could have been levied against the company under the U.S. Sentencing Guidelines due to its extensive remedial and cooperation efforts. Further, the DOJ did not require a monitor.
ArthroCare Corporation (NASDAQ: ARTC) develops and manufactures surgical devices, instruments, and implants that strive to enhance surgical techniques as well as improve patient outcomes.