DENVER, Sept. 10, 2008 (LAWFUEL) — Dyer & Berens LLP today
announced that it has initiated an investigation on behalf of certain
Spectranetics Corporation (Nasdaq:SPNC) (“Spectranetics” or the
“Company”) investors. Dyer & Berens LLP believes that some investors
may have legal claims for losses associated with the Company’s business
practices.
The investigation focuses on possible material omissions and/or
misrepresentations made by Spectranetics to investors concerning (i)
the promotion, use, testing, marketing and sales of certain products
used in procedures to clear clogged arteries, such as catheter
guidewires and balloon catheters, manufactured by certain third parties
outside of the United States, (ii) payments to medical personnel who
took part in clinical studies for Spectranetics from 2002 to 2005, as
well as (iii) compensation packages for certain Company employees. On
September 4, 2008, Spectranetics disclosed it was under federal
investigation regarding the foregoing issues and that search warrants
had been served on the Company by the Food and Drug Administration and
U.S. Immigration and Customs Enforcement agency. With the announcement
of this news, Spectranetics’ stock price plummeted before the NASDAQ
finally halted trading of the stock.
If you have information relevant to the investigation, or if you
