A federal grand jury indicted Howard Root, the CEO of Vascular Solutions Inc. (VASC) and the company itself on charges related to the now-discontinued Short Kit version of its Vari-Lase product for the treatment of varicose veins in the leg after the close Thursday.
Vascular Solutions gapped open lower Friday and steadily declined until mid-morning. The stock settled into a range for the remainder of the session and closed down by 6.76 at $23.74 on the highest volume of the year. Vascular Solutions plunged to a month and a half low and fell below its 50 and 200-day moving averages.
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