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Company to cooperate with inquiry
October 7, 2008
By: Michael Barbella
Managing Editor
Spectranetics announced that several securities class action lawsuits have been filed against the Company and certain of its officers and directors in the US District Court for the District of Colorado. The lawsuits allege that the defendants made false and misleading statements and omissions in violation of the federal securities laws. The claims appear to relate to the matters that Spectranetics officials believe are being investigated by the FDA and the US Immigration and Customs Enforcement. The FDA-Customs Enforcement investigation was revealed last month. Spectranetics executives vowed to defend the company against the lawsuits.
The company also announced that it has received a request from the Denver, CO, office of the Securities and Exchange Commission for the voluntary production of certain documents. Spectranetics officials said the will cooperate fully with the inquiry.
SOURCE: Business Wire
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