Contact Information: CONTACT: Kahn Gauthier Swick, LLC Lewis Kahn 650 Poydras St., Suite 2150 New Orleans, LA 70130 Toll free 1-866-467-1400, Ext. 100 lewis.kahn@kgscounsel.com
Investor Notice: KGS Announces Investigation Into ArthroCare Corp. -- ARTC
| Source: Kahn Gauthier Swick, LLC
NEW ORLEANS, LA--(Marketwire - December 22, 2008) - Kahn Gauthier Swick, LLC announces that it
has commenced an investigation into ArthroCare Corp. ("ArthroCare" or the
"Company") (NASDAQ : ARTC ) to determine whether it has violated federal
securities laws by issuing false and misleading statements to its
shareholders. Currently, lawsuits are pending in the United States
District Court for the Southern District of Florida.
On Friday, ArthroCare announced that it would restate its results dating
back to 2000 because certain executives may have artificially pumped up the
Company's revenue to help it meet its forecasts. The Company disclosed that
it was served subpoenas by the U.S. Attorney in south Florida, along with
the fact that its CFO and two other executives left the Company.
On the heels of losing more than half their value since early July after
the Company announced a restatement for the past two-and-a-half years,
shares plunged more than 60 percent Friday, falling to the lowest price in
11 years. In trading on Monday, shares lost $1.11, and fell to $4.81,
slightly higher than Friday's low of $4.73.
If you have information that might assist KGS in its investigation or would
like to discuss your legal rights, you may e-mail or call KGS, without
obligation or cost to you. You may contact Managing Partner Lewis Kahn of
KGS direct, toll free 1-866-467-1400, ext. 100, or by email at
lewis.kahn@kgscounsel.com. KGS focuses its practice on securities fraud
litigation, and the firm's lawyers have significant experience working on
securities fraud cases that have resulted in significant recoveries for
shareholders. For more information on KGS, please visit www.kgscounsel.com.