Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Cirrus Logic, Inc.    CRUS

News SummaryMost relevantAll newsSector news 

Cirrus Logic, Inc. : Harwood Feffer LLP Announces Investigation of Cirrus Logic Inc.

02/05/2013 | 06:10pm US/Eastern

NEW YORK, Feb. 5, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Cirrus Logic Inc. ("CRUS" or the "Company") (NASDAQ: CRUS), concerning whether the board has breached its fiduciary duties to shareholders.

(Logo: http://photos.prnewswire.com/prnh/20120215/MM54604LOGO)

On July 31, 2012, the Company provided strong full year 2013 revenue and margin guidance and predicted an "outstanding" year for the Company and its shareholders. On this news, Company stock, which had been trading below $30 per share for all of 2012, reached nearly $45 per share during September 2012. During this same period, certain Company officers sold millions of dollars' worth of CRUS stock at inflated prices.

On October 31, 2012, the Company substantially lowered its 2013 guidance, causing CRUS shares to drop below $30 by mid-November 2012. Company stock is currently trading at approximately $27 per share.

Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

If you own CRUS shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.
Matthew M. Houston, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

Attorney Advertising. © 2013 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

SOURCE Harwood Feffer LLP

React to this article
Latest news on CIRRUS LOGIC, INC.
11/20 CIRRUS LOGIC : Assigned Patent
11/16 CIRRUS LOGIC : Assigned Patent
11/12 CIRRUS LOGIC : Researchers Submit Patent Application, "LED Lighting System with ..
11/11 CIRRUS LOGIC : to Present at Upcoming Conferences
11/10 Small gain on Wall St. as investors eye rate hike
11/09 CIRRUS LOGIC : Assigned Patent
11/02 BRITISH LAND : lets first floor at Marble Arch House to Cirrus Logic
11/02 BRITISH LAND : Lets First Floor Of Marble Arch House To Cirrus Logic
10/28 CIRRUS LOGIC : tops Street 2Q forecasts
10/28 CIRRUS LOGIC : Results of Operations and Financial Condition, Change in Director..