DENVER, Sept. 10, 2008 (GLOBE NEWSWIRE) -- 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 believe you were harmed by the foregoing, you may contact Jeffrey A. Berens, Esq. at (888) 300-3362, (303) 861-1764 or via email at jeff@dyerberens.com.
Dyer & Berens LLP specializes in complex class action litigation on behalf of injured investors throughout the nation. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com.