According to a press release a law firm is currently on behalf current and former employees of Spectranetics Corporation (NASDAQ: SPNC) investigating potential ERISA breach of fiduciary duty.

According to the press release the Spectranetics Corp (NASDAQ: SPNC) has been accused of securities fraud. The investigation focused on a possible Spectranetics Corp 401(k) or Employee Retirement Income Security Act (ERISA) class action. Under ERISA, The Spectranetics Corp (NASDAQ: SPNC) employees can file a lawsuit against the company for putting stock options at risk and the Spectranetics Corp employees have a claim if they can prove their employer violated its fiduciary duty to its employees, whereas fiduciary duty refers to a companys responsibility to the people who invest in it, so the investigation.
According to the press release Spectranetics Corp. could have broken its fiduciary duty, if an employer puts the companys interest ahead of the investors.
ERISA, so the investigation, is a federal law that sets minimum standards for pension and health plans set up by private businesses and ERISA was designed to protect people who participate in employee benefit plans, including employees with stock options in a company.