Spectranetics To Pay $8.9M To End Securities Suits

Law360, New York (June 23, 2010, 3:19 PM EDT) -- Medical device company Spectranetics Corp. has agreed to pay nearly $8.9 million to settle a securities class action and a shareholder derivative suit filed after a 2008 raid on the company by federal investigators led to a nearly 40 percent drop in the company's stock price.

The company, based in Colorado Springs, Colo., announced the settlements Tuesday, noting they are contingent on certain factors, including negotiation and execution of a final stipulation of settlement and approval by the U.S. District Court for the District of Colorado....
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