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Violation Tracker Individual Record

Company: ArthroCare Corporation
Current Parent Company: Smith & Nephew
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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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 Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: medical equipment and supplies
Specific Industry of Current Parent: medical equipment
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.