July 17, 2013 / 7:33 PM / in 4 years

U.S. charges two former ArthroCare executives with fraud

WASHINGTON, July 17 (Reuters) - Two former executives of ArthroCare Corp have been charged with a $400 million scheme to defraud investors by inflating the company’s earnings, the U.S. Justice Department said on Wednesday.

Former chief executive officer Michael Baker and former chief financial officer Michael Gluk were charged in the federal indictment and surrendered to law enforcement, the Justice Department said in a statement.

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