SOURCE: Stull, Stull & Brody

September 09, 2008 16:45 ET

Stull, Stull & Brody Announces Lawsuit on Behalf of Shareholders of ArthroCare Corporation

NEW YORK, NY--(Marketwire - September 9, 2008) - Attorney Advertising. Notice is hereby given that a lawsuit has been filed on behalf of shareholders of ArthroCare Corporation ("ArthroCare" or the "Company") (NASDAQ: ARTC).

The complaint alleges that before the market opened on Monday, July 21, 2008 ArthroCare announced that it would be restating its previously reported financial results from the third quarter 2006 through the first quarter 2008 because it improperly recognized previously reported revenue. The Company announced that it expects to report reduced revenue and "material reductions in operating income and net income for the annual and quarterly periods being restated." Upon this announcement, shares of the Company's stock declined significantly. The complaint alleges that on July 24, 2008 the Securities and Exchange Commission (the "SEC") commenced an inquiry into the circumstances surrounding the restatement, and that ArthroCare's officers and directors sold nearly $12 million worth of their personal holdings in ArthroCare securities.

Stull, Stull & Brody has litigated many actions over the past 30 years and maintains offices in New York and Los Angeles.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at, by calling toll-free 1-800-337-4983, by fax to 1-212-490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at

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