Law Offices of Todd M. Garber Announces Investigation of Cirrus Logic, Inc.
LOS ANGELES -- February 12, 2013
The Law Offices of Todd M. Garber announces that it is investigating potential
claims against Cirrus Logic, Inc. (“Cirrus” or the “Company”) (NASDAQ:CRUS)
concerning possible violations of federal securities laws. The investigation
focuses on allegations that certain statements issued by Cirrus between July
31, 2012 and October 31, 2012 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 revenue guidance was not
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 Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by
telephone at 213-700-7262 or by email to firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
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