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Plunge In Spectranetics (SPNC) Related to Federal Raid
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According to reports from Gazette.com, the plunge and subsequent trading halt in Spectranetics (Nasdaq: SPNC) was related to a federal raid at the company's Colorado Springs office as part of a customs investigation.
The report said agents with Immigration and Customs Enforcement told Colorado Springs police that they were investigating whether parts from an international source had been improperly received.
Shares of Spectranetics were halted at 1:05PM ET today after the sank 47% on rumors of the federal raid.
Link to Gazette.com
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