BOCA RATON, Fla., July 22, 2008 (PRIME NEWSWIRE) -- The Florida law firm of Vianale & Vianale LLP announces that it is currently investigating the lack of internal corporate controls and other issues at ArthroCare Corporation (Nasdaq:ARTC) on behalf of its current shareholders.
ArthroCare Corporation advised the investing public on July 21, 2008, that it is restating its financial statements for the years ended December 31, 2006, and 2007, the quarters ended September 30, 2006, December 31, 2006, each of the quarters of 2007 and the quarter ended March 31, 2008, as a result of improper revenue recognition.
The Sarbanes Oxley Act of 2002 requires all publicly traded companies to comply with enterprise wide governance processes and effective internal controls related to financial reporting. By implementing proper internal control practices, companies can strengthen their accountability and avoid a poor internal control environment.
If you own the common stock of ArthroCare and wish to discuss our current investigation, or have any questions concerning this notice or your rights and interests with regard to your investment in ArthroCare common stock, please contact:
Kenneth J. Vianale, Esq.
Julie Prag Vianale, Esq.
Vianale & Vianale LLP
2499 Glades Road, Suite 112
Boca Raton, FL 33431
888-657-9960 (Toll Free)
(561-392-4750)
Email: info@vianalelaw.com
Vianale & Vianale LLP is active in major litigations pending in federal and state courts. More about the firm is available on its website.