A federal jury June 2 convicted the former chief executive officer and the former chief financial officer of an Austin, Texas-based medical device company for running a fraud scheme that caused over $400 million in shareholder losses (United States v. Baker).
After a four-week trial in the U.S. District Court for the Western District of Texas, former ArthroCare Corp. CEO Michael Baker and former CFO Michael Gluk were found guilty of conspiracy to commit wire and securities fraud, wire fraud, and securities fraud; Baker was also found guilty of making false statements.
In an e-mail to Bloomberg BNA, ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.