ArthroCare Corporation Announces Expansion of Periods Covered by Restatement of Financial Statements and Withdrawal of Previously Disclosed Anticipated Adjustments; Management Changes; Subpoenas for Production of Documents

AUSTIN, Texas--(BUSINESS WIRE)--ArthroCare Corp. (NASDAQ: ARTC) announced today that it will expand the periods covered by the previously announced restatement of its financial statements, and that it has withdrawn its estimates of the ranges of the effects of the restatement, which were previously announced on July 21, 2008. The Company also announced certain facts identified in the review of the Company’s internal controls being conducted under the supervision of the Audit Committee of the Board of Directors (the “Review”) as well as matters identified by management as part of the restatement process. In addition, the Company announced the resignation of three officers of the Company, including two executive officers, as well as other management changes. Finally, the Company announced the receipt of two subpoenas for the production of documents relating to DiscoCare, Inc. (“DiscoCare”).

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