Endocare Inc., an embattled medical device maker, said Wednesday that it would pay $750,001 to settle charges with the Securities and Exchange Commission.
The deal is preliminary and still must be approved by regulators and a federal court judge.
The Irvine-based company said that it would not admit or deny any wrongdoing if the deal is accepted. Endocare also said it would resolve any claims against it relating to the SEC investigation of accounting practices that started two years ago.
Besides the money, Endocare said it would agree to a judgment barring violations of securities laws and agree to various internal controls.
Endocare, which makes a device to treat prostate cancer, saw its shares go up 8.9% to $3.8 in trading Wednesday.
Endocare once was one of the Business Journal’s fastest-growing companies after riding strong sales of its cancer-freezing and destroying treatment. Its stock traded in the $20s earlier this decade.
The company has seen its stock price and market value drop sharply during the past three years.
