Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in The Spectranetics Corporation to C...
October 21 2015 - 3:22PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the District of
Colorado on behalf of purchasers of The Spectranetics Corporation
(NasdaqGS:SPNC) (“Spectranetics” or the “Company”) securities
during the period between February 19, 2015 and July 23, 2015,
inclusive (the “Class Period”). Investors who wish to become
proactively involved in the litigation have until October 26, 2015
to seek appointment as lead plaintiff.
If you have suffered a loss from investment in
Spectranetics securities purchased on or after February 19, 2015
and held through the revelation of negative information during
and/or at the end of the Class Period, as described below, and
would like to learn more about this lawsuit and your ability to
participate as a lead plaintiff, without cost or obligation to you,
please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
No class has yet been certified in the above action. Members of the
Class will be represented by the lead plaintiff and counsel chosen
by the lead plaintiff.
If you wish to choose counsel to represent you
and the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in Company securities during the Class
Period. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
The complaint accuses the defendants of
violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that the
Company was being negatively impacted by increasing competition and
its sales force optimization efforts were inadequate, such
that the Company was performing below expectations.
According to the Complaint, following the
Company’s April 23, 2015 reporting of disappointing earnings
results and a lowered forecast for the rest of the year (due in
large part to increased competition from other drug-coated balloon
products) and a July 23, 2015 announcement that the Company was
lowering its guidance for the remainder of 2015 and revelation that
competitive pressure from the rapid adoption of drug-coated
balloons and ongoing sales force optimization efforts were causing
its AngioSculpt franchise to perform below expectations, the value
of Spectranetics shares declined significantly.
Attorneys at Brower Piven have extensive
experience in litigating securities and other class action cases
and have been advocating for the rights of shareholders since the
1980s. If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain
other counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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