Harwood Feffer LLP Announces Investigation of Cirrus Logic Inc.
NEW YORK, Feb. 5, 2013
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.
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,
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
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.
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