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

CIRRUS LOGIC, INC. (CRUS)
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51.75 USD   +2.11%
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Cirrus Logic, Inc. : Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Cirrus Logic, Inc.

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03/14/2013 | 12:10am CET

Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all purchasers of the common stock of Cirrus Logic, Inc. ("Cirrus" or the "Company") (NASDAQ: CRUS) between July 31, 2012 and October 31, 2012, inclusive (the "Class Period").

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 Complaint alleges that throughout the Class Period the defendants misrepresented and/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.

No class has yet been certified in this action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Cirrus common stock during the Class Period, you have certain rights, and have until April 5, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning 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 [email protected], 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
Michael Goldberg
(310) 201-9150 or (888) 773-9224
[email protected]
www.glancylaw.com


© Business Wire 2013
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Financials ($)
Sales 2018 1 653 M
EBIT 2018 408 M
Net income 2018 256 M
Finance 2018 470 M
Yield 2018 -
P/E ratio 2018 13,15
P/E ratio 2019 13,79
EV / Sales 2018 1,67x
EV / Sales 2019 1,47x
Capitalization 3 227 M
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Cirrus Logic, Inc. Technical Analysis Chart | CRUS | US1727551004 | 4-Traders
Technical analysis trends CIRRUS LOGIC, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 67,5 $
Spread / Average Target 33%
EPS Revisions
Managers
NameTitle
Jason P. Rhode President, Chief Executive Officer & Director
Alan R. Schuele Chairman
Thurman K. Case CEO, Treasurer, CAO & Vice President
William D. Sherman Independent Director
John C. Carter Independent Director
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