ArthroCare to pay $74M in class action settlement
ArthroCare Corp. said Monday that it will pay $74 million to settle private securities class action lawsuits against the surgical products maker and two former officers.
The Austin, Texas, company said the agreement, which still needs court approval, would settle claims stemming from the purchase or sale of its stock between Dec. 11, 2007, and Feb. 18, 2009. The lawsuits were consolidated into a case in the U.S. District Court for the Western District of Texas.
ArthroCare makes surgical devices, instruments and implants.