HARTFORD, Conn., March 14, 2008 (PRIME NEWSWIRE) -- The law firm of Schatz Nobel Izard P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that it is investigating possible securities law violations by ArthroCare Corp. ("ArthroCare" or the "Company") (Nasdaq:ARTC)
The investigation concerns whether ArthroCare materially overstated its financial results through the improper recognition of revenue. Specifically, the investigation concerns whether ArthroCare improperly recognized revenue from its business relationships with a company called DiscoCare, Inc. ("DiscoCare") and a company called Device Reimbursement Services ("DRS").
As a result of adverse news stories and partial disclosures concerning the accuracy of the Company's reported financial results and its business dealings with DiscoCare and DRS, the price of the Company's stock price fell to approximately $38.11 by January 25, 2008. During the period under investigation, ArthroCare's stock traded as high as $64.84 on October 31, 2007.
If you purchased the common stock of ArthroCare between August 4, 2006 and January 23, 2008, or if you have additional information about ArthroCare, or if you would like more information about this investigation, class action cases in general, and your rights, please contact Schatz Nobel Izard P.C. toll-free at (800) 797-5499, or by e-mail at firm@snilaw.com, or visit our website: www.snilaw.com.