UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported): November 30, 2009
ARTHROCARE
CORPORATION
(Exact
name of registrant as specified in its charter)
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Delaware
(State or other jurisdiction
of Incorporation)
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0-027422
(Commission File Number)
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94-3180312
(I.R.S. Employer Identification
Number)
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7500
Rialto Blvd., Building Two, Suite 100
Austin, TX
78735
(Address
of principal executive offices, including zip code)
(512)
391-3900
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation
of the registrant under any of the following provisions (see General Instruction A.2
below):
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 14e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
7.01. Regulation FD Disclosure.
ArthroCare
Corporation ("ArthroCare") has entered a Settlement Agreement and Release (the
"Settlement Agreement") with Government Employees Insurance Company and its
affiliates (collectively “GEICO”), Metropolitan Property and Casualty Insurance
Company and its affiliates (collectively “Metropolitan”) and The Hartford
Financial Services Group, Inc. and its affiliates (collectively “The Hartford”)
regarding prior claims for reimbursement made to GEICO, Metropolitan or The
Hartford (collectively the “Insurers”) related to cases in which letters of
protection were held by ArthroCare’s subsidiary DiscoCare, Inc. Pursuant to the
Settlement Agreement, the Insurers and ArthroCare have each released the other
generally from any claims, demands, losses and liabilities occurring prior to
the date of the Settlement Agreement, other than third party claims. In
consideration of the mutual releases, and without admitting any liability or
wrongdoing, ArthroCare has agreed to pay the Insurers an aggregate of $995,000.
In addition, ArthroCare has agreed that it will not seek payment from any of the
Insurers on any pending SpineWand® claims for which the SpineWand surgical
device was provided in exchange for a letter of protection.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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ARTHROCARE
CORPORATION
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Date: December
8, 2009
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By:
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/s/
David
Fitzgerald
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David Fitzgerald
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President and Chief Executive
Officer
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