Spectranetics rids board of "underinvestors", price tumbles
This article was originally published in Clinica
US laser developer Spectranetics (Colorado Springs, Colorado) last week confronted divisions emerging within the board by removing two dissenters, CEO Joseph Largey and CFO Paul Samek. Both had disagreed with board policy, said the board in a statement. It said that the two directors were not committed to getting expenses under control, and were "underinvesting in product development at a critical point". Share prices dropped 20% on the development.