ArthroCare, a surgical device manufacturer based in Texas, agreed with prosecutors to a one-month extension on a query from the United States Department of Justice. The federal inquiry is in direct response to the company’s spinal operations.
According to a report from Mass Device, the company has agreed to an extension on the statute of limitations. The new deadline will be March 1st of this year. The previous deadline for the statute of limitations was today, February 1st.
The company has experienced a variety of legal problems in the past few years. In February of 2011, an investigation by the Securities Exchange Commission was closed. Later that year, the company underwent another investigation over a derivatives issue. There is also a federal probe underway regarding the company’s actions; however, few details are known about that probe at this time.
David Fitzgerald is the CEO and president of ArthroCare. At the J.P. Morgan Healthcare conference, Fitzgerald said, "The DOJ criminal investigation that began in December of 2008 is ongoing and we continue to actively cooperate with the investigation." He continued, "Although the DOJ has not committed to an end date and may request future tolling agreements, we think it's possible that the DOJ investigation of the company may complete soon."
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