ArthroCare Corp (NASDAQ:ARTC)
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A multi-business medical device company that develops, manufactures and markets minimally invasive surgical products.
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A multi-business medical device company that develops, manufactures and markets minimally invasive surgical products.
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Several large insurance companies are going after the medical providers and attorneys who do business with Arthrocare/Discocare. Insurance fraud seems just the tip of the iceberg. Here in Palm Beach County, FL, where I live, several defense attorneys are vigorously fighting against claims involving patients treated under the "Discocare Model" by the subject doctors.
Thre are at least 3 class action suits pending in Florida alone against Arthrocare related to false financial statements resulting from alleged fraudulent "upcoding" Discocare's billings. As more and more information is revealed in court filings, this company's stock will go nowhere but down. It is only a matter of time.
Stay FAR away from this stock!