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Devicemaker Faces Class Action Lawsuit

Suit comes on heels of FDA investigation

By: Editor

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A shareholder class action suit has been filed against Spectranetics in the US District Court for the District of Colorado. The suit followed last month’s announcement by the company, which manufactures single-use devices used in minimally invasive cardiovascular procedures, that it was being investigated by the FDA and US Immigration and Customs Enforcement. The suit claims the company and some of its executive officers violated federal securities laws, according to lawyers for the shareholders.

SOURCE: FDANEWS

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