Spectranetics Corp (NASDAQ:SPNC) Investor Investigation Concerning Potential Securities Laws Violations Announced

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Company Name(s): 
Spectranetics Corp
Affected Securities: 

April 27, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Spectranetics Corp (NASDAQ:SPNC) shares over potential securities laws violations in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Spectranetics Corp (NASDAQ:SPNC) concerning whether certain statements regarding Spectranetics’ business, its prospects and its operations were materially false and misleading at the time they were made.

Spectranetics Corp reported that its annual Total Revenue rose from $140.28 million in 2012 ro $204.91 million in 2014 while its Net Income of $2.23 million in 2012 declined to a Net Loss of $40.90 million in 2014. Shares of Spectranetics Corp (NASDAQ:SPNC) grew from $7.61 per share in March 2012 to as high as $36.44 per share in March 2015.

Then 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 $24.79 per share on April 24, 2015.