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$8.5M Settlement Proposed in Spectranetics Securities Class Action


This is a settlement for the Securities/Stock Fraud lawsuit.

New York, NY: The plaintiff (the "Settling Class Action Plaintiff') in the action pending in the United States District Court for the District of Colorado (the "Federal Court"), and entitled In re Spectranetics Corporation Securities Litigation, Civil Action No. 08-cv-02048-REB-KLM (the "Class Action"), has entered into a Stipulation of Settlement, dated as of September 7, 2010 (the "Stipulation") with defendants The Spectranetics Corporation, Guy A. Childs, Emile J. Geisenheimer, Jonathan W. McGuire, John G. Schulte, and Craig M. Walker, M.D. (the "Settling Class Action Defendants") to resolve the issues raised in the Class Action as against the Settling Class Action Defendants.

Pursuant to a Court order, a hearing will be held on January 21, 2011 to determine: (1) whether the settlement of claims in the Class Action against the Settling Class Action Defendants for $8,500,000 should be approved as fair, just, reasonable and adequate to all members of the Settlement Class; (2) whether the proposed Plan of Allocation is fair, just, reasonable, and adequate; (3) whether the application of Settling Class Action Plaintiff's Counsel for an award of attorneys' fees and expenses should be approved; and (4) whether the Class Action should be dismissed with prejudice as set forth in the Stipulations filed with the Court.

If you purchased or otherwise acquired Spectranetics common stock during the period from March 16, 2007 to September 4, 2008, inclusive, your rights may be affected by the settlement of this Class Action, including through the release and extinguishment of claims you may possess relating to your purchase or acquisition of Spectranetics common stock during the class period. To share in the distribution of the Settlement Fund, you must establish your rights by filing a Proof of Claim and Release form on or before February 21, 2011.

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Published on Oct-8-10


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