For the 4th time in a year, ArthroCare and the Justice Department extended their deadline to strike a deal in an ongoing criminal probe into the company’s spinal business unit.
The Austin, Tex-based company and the DOJ entered into another tolling agreement, a deal that extends statute of limitation rules, until August 31st. The negotiations were 1st extended in January, and the most recent tolling agreement was set to close May 31.
Once again, ArthroCare declined to comment on likely outcome of the deal or any financial hit, according to a regulatory filing. ArthroCare has seen its fair share of legal troubles in the past few years, including SEC investigations and stock manipulation cases.
Two former executives are in the spotlight for their supposed role in a fraud scheme that artificially boosted company sales figures and robbed investors of a total of $400 million.