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Bronstein, Gewirtz & Grossman, LLC Announces that a Class Action has been Filed Against The Spectranetics Corporation
Date:10/20/2008

NEW YORK, Oct. 20 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC announces that a class action lawsuit has been filed in the United States District Court for the District of Colorado against The Spectranetics Corporation. ("Spectranetics" or the "Company") (Nasdaq: SPNC) and various individuals on behalf of purchasers of Spectranetics who purchased common stock between April 19, 2007 and September 4, 2008 (the "Class Period").

According to the complaint, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (1) that the Company lacked effective regulatory compliance controls; (2) that the Company was illegally and extensively marketing its laser and catheters for uses that had not been approved by the FDA; (3) that the Company failed to report to the FDA that tests found its laser caused significant damage to stents it was using in the clinical trial; (4) that the company illegally tested several products on patients without FDA approval; (5) that the Company lacked effective internal controls; and (6) as a result of the above, the Company's financial results were materially inflated.

No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. November 24, 2008 is the deadline for investors to seek a lead plaintiff appointment.

Bronstein Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary experti
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SOURCE Bronstein, Gewirtz & Grossman, LLC
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