LOS ANGELES -- (Business Wire)
Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims on behalf of purchasers of the common stock of Cirrus
Logic, Inc. (“Cirrus” or the “Company”) (NASDAQ:CRUS) between July 31,
2012 and October 31, 2012 concerning possible violations of federal
securities laws. The investigation focuses on allegations that certain
statements issued by Cirrus were false and misleading concerning the
Company’s business and financial prospects.
Cirrus develops signal-processing integrated circuits for audio and
energy markets. The Company’s audio products include amplifiers, codecs,
converters and digital signal processors for such applications as
smartphones, tablets, home theater equipment, automotive entertainment
systems and professional audio gear. The investigation is related to
allegations that the Company misrepresented or failed to disclose that:
(1) the Company’s dependence for revenues on its biggest customer --
Apple, Inc. -- was increasing rather than diminishing; (2) the Company’s
sales growth was declining rather than increasing; (3) difficulties in
its supply chain, and at its vendors, were increasing Cirrus’s costs and
diminishing the Company’s profit margins; (4) the launch of several
models of Cirrus’s new LED lighting had been delayed; and (5) as a
result, Cirrus’s increased fiscal 2013 guidance was not attainable.
If you purchased Cirrus common stock between July 31, 2012 and October
31, 2012, if you have information or would like to learn
more about these claims, or if you wish to discuss these matters or
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, by telephone at (310)
201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Source: Glancy Binkow & Goldberg LLP
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