| Company: | ArthroCare Corporation |
| Ticker Symbol: | NASD: ARTC |
| Class Period: | August 4, 2006 to January 23, 2008 |
| Date Filed: | April-07-08 |
| Lead Plaintiff Deadline: | June-03-08 |
| Court: | Southern District, FL |
| Allegations: |
A class action lawsuit was filed on behalf of all persons who purchased the common stock of ArthroCare Corporation ("ArthroCare" or the "Company") (NASDAQ: ARTC) between August 4, 2006 and January 23, 2008, inclusive (the "Class Period"). The action is pending in the United States District Court for the Southern District of Florida.
The Complaint alleges that ArthroCare and certain of its officers violated the federal securities laws by issuing materially false and misleading statements concerning the Company's business and financial results during the Class Period. Specifically, the Complaint alleges that ArthroCare's reported financial results were materially false and misleading as a result of: (i) ArthroCare's improper recognition of revenue from transactions with DiscoCare, Inc., which were contingent in nature; and (ii) ArthroCare's improper recognition of revenue from transactions with Device Reimbursement Services, an undisclosed, related party. The Complaint further alleges that these material misrepresentations artificially inflated the price of ArthroCare stock, causing the price of ArthroCare to trade as high as $64.84 per share during the Class Period.
If you purchased ArthroCare common stock during the Class Period, you may, no later than June 3, 2008, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The Complaint alleges that ArthroCare and certain of its officers violated the federal securities laws by issuing materially false and misleading statements concerning the Company's business and financial results during the Class Period. Specifically, the Complaint alleges that ArthroCare's reported financial results were materially false and misleading as a result of: (i) ArthroCare's improper recognition of revenue from transactions with DiscoCare, Inc., which were contingent in nature; and (ii) ArthroCare's improper recognition of revenue from transactions with Device Reimbursement Services, an undisclosed, related party. The Complaint further alleges that these material misrepresentations artificially inflated the price of ArthroCare stock, causing the price of ArthroCare to trade as high as $64.84 per share during the Class Period.
If you purchased ArthroCare common stock during the Class Period, you may, no later than June 3, 2008, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
