Thieler Law Corp advises investors with losses exceeding $100,000 of the October 26, 2015 lead plaintiff deadline in a class action lawsuit filed against The Spectranetics Corporation (NASDAQ: SPNC) (“Spectranetics” or “the Company”). The suit is pending in the U.S. District Court for the District of Colorado and investors, who purchased Spectranetics securities between February 19, 2015, and July 23, 2015, have until October 26, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Spectranetics securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com .  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Spectranetics’ competition was growing and having a negative effect on business and that the efforts of the Company’s sales force to increase sales were lacking. The plaintiff claims that due to those facts, as a result, the Company was performing below expectations and that the Company lacked adequate internal controls. Finally, the complaint states that, as a result of the foregoing, Defendants’ statements about Spectranetics’s business, operations and prospects were false and misleading and/or lacked validity.

On April 23, 2015, Spectranetics reported earnings lower than expected and adjusted its forecast for the rest of the year. The Company attributed much of the lowered forecast to increased competition from other drug-coated balloon products. After this news was released, shares of Spectranetics declined $8.18 per share, over 23%, to close on April 24, 2015, at $26.52 per share, on unusually heavy volume.

On July 23, 2015, Spectranetics lowered revenue guidance for the remainder of 2015. According to the Company, competitive pressure from the fast increasing popularity of drug-coated balloons and ongoing sales force optimization efforts were causing its AngioSculpt franchise to perform below expectations. After this news was released, shares of Spectranetics declined $8.53 per share, over 34%, to close on July 24, 2015, at $16.30 per share, on unusually heavy volume.

If you were negatively impacted by your investment in Spectranetics securities between February 19, 2015, and July 23, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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