In re Spectranetics Corporation Securities Litigation

Settled: April 04, 2011

An $8.5 million settlement was approved in this case alleging securities fraud.

On April 4, 2011, the Honorable Robert E. Blackburn of the United States District Court for the District of Colorado granted final approval to the $8.5 million settlement in the class action In re Spectranetics Corporation Securities Litigation, No. 08-CV-02048-REB-KLM.

Labaton Sucharow and Brower Piven, a Professional Corporation, are served as Court-appointed settling class action plaintiff's counsel for lead plaintiff the Spectranetics Investor Group, comprised of Genesee County Employee's Retirement System, the Wayne County Employee's Retirement System, and Peter J. Tortora. 

The Class alleged that Spectranetics Corporation ("Spectranetics") and certain individual defendants misled investors by making misrepresentations and omissions to the investing public, which had the effect of artificially inflating Spectranetics' stock price. 

If you purchased or otherwise acquired the common stock of Spectranetics from March 16, 2007 to September 4, 2008, inclusive, and allegedly sustained a loss as a result of the acquisition, you may be eligible to recover if you submitted a Proof of Claim form with supporting documents by February 21, 2011. The deadline for objecting to the settlement or for seeking exclusion from the Class was November 23, 2010. A Settlement Hearing was held on January 21, 2011, at 2:30 p.m. before Judge Robert E. Blackburn in Courtroom A1001 of the Alfred A. Arraj United States Courthouse, 901 19th Street, Denver, Colorado 80294-3589. 

A copy of the Notice of Pendency of Class Action and Proposed Settlement, Proof of Claim form, the Order Preliminarily Approving Settlement and Approving the Form and Manner of Notice and the Stipulation of Settlement can be accessed by clicking on the links to the right.