The recent shutdown of a Sterigenics medical device sterilization plant in Willowbrook, Ill. has affected medtech giants such as Becton Dickinson (NYSE:BDX), Boston Scientific (NYSE:BSX), Medtronic (NYSE:MDT), Smith & Nephew (NYSE:SNN) and Stryker (NYSE:SYK), according to an FDA list of devices processed at the sterilization plant. Medium-sized and smaller firms, including Teleflex (NYSE:TFX), Arthrex and ArthroCare also had devices processed there. The Willowbrook plant sterilized 594 types of devices, including sutures, clamps, […]
Ex-ArthroCare CEO Baker loses appeal of 20-year sentence
A federal appeals court this week upheld the 20-year sentence imposed on former ArthroCare CEO Michael Baker after his second conviction in a $750 million fraud case. Baker and ex-ArthroCare CFO Michael Gluk were first convicted in June 2014 on charges that they ran a scheme to inflate revenues by dumping inventory, first with a distributor called DiscoCare and eventually via free shipments […]
Ex-ArthroCare CEO Brown draws 20-year sentence
A federal judge in Texas last week accepted prosecutors’ recommendations in sentencing former ArthroCare CEO Michael Baker to a 20-year prison term after his conviction in a $750 million fraud case. Baker and ex-ArthroCare CFO Michael Gluk were convicted in June 2014 on charges that they ran a scheme to generate false revenue numbers by dumping inventory, first with a distributor called DiscoCare and […]
Prosecutors want ex-ArthroCare CEO Baker to do 20 years for fraud conviction
Federal prosecutors in Texas want a judge to sentence former ArthroCare CEO Michael Baker to a 20-year prison term after his conviction in a $750 million fraud case. Baker and ex-ArthroCare CFO Michael Gluk were convicted in June 2014 on charges that they ran a scheme to generate false revenue numbers by dumping inventory, first with a distributor called DiscoCare and eventually via free […]
Conviction stands for ex-ArthroCare CEO Baker in $750m fraud case
A federal judge Texas this week upheld the conviction of former ArthroCare CEO Michael Baker on eight counts of wire fraud, rejecting his argument citing a recent U.S. Supreme Court case. Baker and ex-ArthroCare CFO Michael Gluk were convicted in June 2014 on charges that they ran a scheme to generate false revenue numbers by dumping inventory, first with a distributor called DiscoCare […]
Ex-ArthroCare CEO Baker convicted again in fraud case
A federal jury in Texas last week handed former ArthroCare CEO Michael Baker another loss in his second trial over an alleged $750 million fraud scheme, after a federal appeals court last year overturned his first conviction. Baker and ex-ArthroCare CFO Michael Gluk were convicted in June 2014 on charges that they ran a scheme to generate false revenue numbers by dumping inventory, […]
Ex-ArthroCare CEO Baker looks to dismiss wire fraud charges
Former ArthroCare CEO Michael Baker is looking to dismiss multiple counts of wire fraud based on a recent Supreme Court ruling which defined requirements for obtaining property as the result of a crime. In the trial, Baker is looking to dismiss 8 counts of wire fraud based on the recent reaffirmation by the Supreme Court […]
Ex-ArthroCare CFO pleads guilty to single count after 10-year sentence overturned
Former ArthroCare CFO Michael Gluk, who last year won his appeal of a 10-year sentence after being convicted of running a scheme to defraud investors of more than $750 million, yesterday pleaded guilty to a single count of conspiracy to commit wire fraud and securities fraud. Gluk and ex-CEO Michael Baker were convicted in June 2014; Baker was sentenced […]
Appeals court tosses convictions of ex-ArthroCare CEO, CFO
A federal appeals court yesterday overturned the criminal convictions of 2 former executives at ArthroCare, ruling that a lower court was wrong to exclude some and admit other evidence in their trials. Former ArthroCare CEO Michael Baker and ex-CFO Michael Gluk were convicted in June 2014 of running a scheme to defraud investors of more than $750 […]
Stryker agrees to pay $80M to settle OtisMed beef | Medtech legal news for the week of December 8, 2014
No new trials for ex-ArthroCare CEO, CFO
There will not be any new trials for 2 former ArthroCare (NSDQ:ARTC) executives, a federal judge in Texas ruled Dec. 4.
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