Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline in the
Class Action Lawsuit Against Cirrus Logic, Inc.
BENSALEM, Pa. -- March 25, 2013
Law Offices of Howard G. Smith announces that investors of Cirrus Logic, Inc.
(“Cirrus” or the “Company”) (NASDAQ: CRUS) have until April 5, 2013 to move
the Court to serve as lead plaintiff in the securities fraud class action
lawsuit filed in the United States District Court for the Southern District of
New York on behalf of a class (the “Class”) comprising all purchasers of
Cirrus common stock 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 at its vendors and in its supply chain 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, the Company’s increased fiscal 2013 guidance was not
If you are a member of the Class described above, 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, or may retain counsel of
your choice. If you wish to discuss this action or learn more concerning your
rights or interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to firstname.lastname@example.org, or visit our
website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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