An investigation on behalf of current long term investors in Spectranetics Corp (NASDAQ:SPNC) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:SPNC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/03/2016 -- An investigation for shareholders in Spectranetics Corp (NASDAQ:SPNC) was announced concerning potential breaches of fiduciary duties by certain Spectranetics directors.
Investors who are current long term investors in Spectranetics Corp (NASDAQ:SPNC) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ:SPNC stocks follows a lawsuit filed recently against Spectranetics Corp over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:SPNC stocks, concerns whether certain Spectranetics officers and directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that defendants made certain allegedly false and/or misleading statements and/or allegedly failed to disclose to investors that Spectranetics Corp was being negatively impacted by increasing competition, that Spectranetics' sales force optimization efforts were inadequate, that that, as a result, Spectranetics Corp was performing below expectations, that Spectranetics Corp lacked adequate internal controls; and that, as a result of the foregoing, Defendants' statements about Spectranetics's business, operations and prospects were false and misleading and/or lacked a reasonable basis.
On April 23, 2015, Spectranetics Corp reported its first quart 2015 revenue. While Spectranetics Corp reported that its first quarter Revenue rose from $39.61 million last year to $57.42 million in 2015, its first quarter Net Loss increased from $5.66 million in 2014 to $27.3 million in 2015. Shares of Spectranetics Corp (NASDAQ:SPNC) declined to as low as $23.87 per share on April 24, 2015.
On July 23, 2015, Spectranetics Corp lowered revenue guidance for the remainder of 2015. According to Spectranetics Corp, 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. Shares of Spectranetics Corp (NASDAQ:SPNC) dropped to $15.00 per share on July 24, 2015.
Those who purchased shares of Spectranetics Corp (NASDAQ:SPNC) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com