NEW YORK, April 14, 2008 (PRIME NEWSWIRE) -- The Brualdi Law Firm P.C. announced today that it has filed that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of purchasers of the common stock of ArthroCare Corp. ("ArthroCare" or the "Company") (Nasdaq:ARTC) between August 4, 2006 and January 23, 2008, inclusive (the "Class Period").
No class has yet been certified in the above action. If you purchased ArthroCare stock during the Class Period, you may be a member of the proposed Class. You must move the Court on or before June 3, 2008 if you wish to serve as a lead plaintiff. In making your decision, you should take into account that those with large financial losses resulting from the alleged federal securities law violations are given preference in being appointed lead plaintiff.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. 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 Tali Leger, Director of Shareholder Relations at The Brualdi Law Firm P.C., 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1877 or (212) 952-0602, by email to tleger@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com/
The Complaint alleges that Defendants' material misrepresentations artificially inflated the price of ArthroCare stock, causing it to trade as high as $64.84 per share during the Class Period. 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 the "sales agent" and related party, the price of ArthroCare stock fell to approximately $38.11 by January 25, 2008.