Khang & Khang LLP (the “Firm”) announces that a class action lawsuit has
been filed in the United States District Court for the District of
Colorado against The Spectranetics Corporation (“Spectranetics” or the
“Company”) (NASDAQ: SPNC).
Investors who purchased or otherwise acquired shares between February
19, 2015, and July 23, 2015, inclusive (the “Class Period”) are
encouraged to contact the Firm immediately to discuss their legal
options.
If you purchased shares of Spectranetics during the class period, please
contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman
Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by
email at joon@khanglaw.com.
There has been no class certification in this case. Until certification
occurs, you are not represented by an attorney. You may choose to take
no action and remain a passive class member.
Spectranetics manufactures and sells medical devices used in
cardiovascular surgery. The complaint against Spectranetics alleges
that: (1) increasing competition had adversely affected the Company; (2)
that Spectranetics' sales force optimization efforts were not adequate
and caused the Company to perform below expectations; and (3) that the
Company lacked adequate internal controls. On July 23, 2015,
Spectranetics reported results that fell below Wall Street’s
expectations. The Company attributed the lowering of its guidance to
competitive drug-coated balloon launches and ongoing sales team
optimization. When this news was revealed to investors, shares fell by
approximately 34%, to close at $24.83 per share.
If you purchased shares of Spectranetics during the Class Period you
have until October 26, 2015 to ask the Court to appoint you as lead
plaintiff. If you wish to learn more about this lawsuit, or if you have
any questions concerning this notice or your rights, please contact Joon
M. Khang, a prominent litigator for almost two decades, by telephone:
(949) 419-3834, or by email at joon@khanglaw.com.
This press release may constitute Attorney Advertising in some
jurisdictions.
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