Violation Tracker Individual Record

Company: 
ArthroCare Corporation
Current Parent Company: 
Smith & Nephew
Penalty: 
$30,000,000
Year: 
2014
Date: 
January 7, 2014
Offense Group: 
financial offenses
Primary Offense: 
accounting fraud or deficiencies
Violation Description: 

ArthroCare Corporation, publicly traded medical device manufacturer based in Austin, Texas, agreed to pay a $30 million monetary penalty to resolve charges that senior executives at the company engaged in a securities fraud scheme that resulted in more than $400 million in shareholder losses.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Justice Department Criminal Division
Civil or Criminal Case: 
criminal
Prosecution Agreement: 
deferred prosecution agreement
HQ Country of Parent: 
United Kingdom
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
medical equipment and supplies
Specific Industry of Parent: 
medical equipment
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.