They had issues with the bolts flying out and if you search, I'm sure you can find threads of people getting hurt with them. This is what scares me about it. Other than that issue they seem to have a pretty crappy trigger and most reports say groups are about 1.5" or so which is decent. However, for $100 more you can get a Savage Model 10 or 110 depending on the action, package rifle at Walmart that has the Accu Trigger which is great, has never had any safety issues so you won't have that thought in your head, and the ones I've seen have shot around .4-.5" groups with handloads and around .8" groups with Federal Power Shok and Winchester Power Point factory ammo. It also comes with a sling and a Simmons scope. Now the scope isn't the best, but seems to be okay to use until you can afford something better. IMO the Savage is a much much better buy and they are only $384 or $387 or something right in that price range at the Walmarts in our area. Plus it's easily upgradable.
Another good choice is the Marlin XL-7 or XS-7 which comes in right around $300 with no scope. It's also getting great reviews and seems to be a good choice.
Those are the two best deals in that price point imo. There is also a Weatherby Vanguard that our Walmart has on clearance for $400 with no scope and it gets good reviews too, but I still prefer the Savage.
That being said the biggest rifles to avoid in this price range are the Remington 770's and even the older 710's. Almost all of the other choices are better than those two, however, the Savage and Marlin are a lot more rifle for the money than the Mossberg.