Arthrocare (ARTC -17.8%) shares plunges a day after reporting a substantial Q4 loss attributed...

|By:, SA News Editor

Arthrocare (ARTC -17.8%) shares plunges a day after reporting a substantial Q4 loss attributed largely to hefty charges related to a proposed settlement of certain securities class action suits. Jefferies cuts its stock rating to Hold from Buy and drops its price target to $25 from $32, citing the "new and entirely unexpected" investigation which will preclude an anticipated takeover.