The Spectranetics Corporation Securities Litigation
On or around 08/16/2017 (Court's order of dismissal)
Filing Date: July 21, 2017
According to the Complaint, on June 27, 2017, the Company announced that it had entered into a definitive agreement (the “Merger Agreement”), by which Philips would commence a tender offer (the “Tender Offer”) to acquire all of the outstanding shares of Spectranetics common stock for $38.50 per share in cash (the “Merger Consideration”).
In connection with the commencement of the Tender Offer, on July 12, 2017, the Company filed a Recommendation Statement on Schedule 14D-9 (the “Recommendation Statement”) with the SEC. The Complaint alleges the Recommendation Statement is materially deficient and misleading because it fails to disclose material information about the background of the merger.
On August 16, 2017, this case was voluntarily dismissed.
Company & Securities Information
Defendant: The Spectranetics Corporation
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: SPNC
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Andres Aviles, et al. v. The Spectranetics Corporation, et al.