Key Developments: Cirrus Logic Inc (CRUS.O)
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1,501,854
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Latest Key Developments (Source: Significant Developments)
Cirrus Logic Inc Reaffirms Q1 2014 Revenue Guidance
Cirrus Logic Inc announced that for the first quarter of 2014, it expects revenues of $150 to $170 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $159 million for the first quarter of 2014. Full Article
Cirrus Logic Inc Issues Q1 2014 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Cirrus Logic Inc announced that for the first quarter of 2014, it expects revenues of $150 to $170 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $159 million for the first quarter of 2014. Full Article
Faruqi & Faruqi, LLP Files Securities Class Action Lawsuit Against Cirrus Logic Inc
Faruqi & Faruqi, LLP announced that it has filed a class action lawsuit in the United States District Court for the Southern District of New York ( Dovellos v. Cirrus Logic, Inc. et al , No.13 CIV 2174), on behalf of all persons who purchased or otherwise acquired Cirrus Logic, Inc. stock and/or call options between July 31, 2012 and October 31, 2012 , inclusive (Class Period) and suffered damages as a result. Specifically, the complaint alleges that defendants knew or recklessly failed to inform investors that: Cirrus's dependence on revenues from Apple was increasing rather than decreasing; Cirrus's sales growth was decreasing rather than increasing; Cirrus was experiencing rising costs and difficulties with regards to its supply chain and its vendors; the launch of certain models of new LED lights had been delayed; and as a result thereof, Cirrus's increased fiscal year 2013 guidance was not feasible. Full Article
Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In Class Action Lawsuit Against Cirrus Logic Inc
Law Offices of Howard G. Smith announced that investors of Cirrus Logic Inc. (Cirrus or the Company) 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 attainable. Full Article
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Cirrus Logic Inc
Glancy Binkow & Goldberg LLP announced 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 between July 31, 2012 and October 31, 2012, inclusive (the Class Period). 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. Full Article
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Cirrus Logic Inc
Law Offices of Howard G. Smith announced 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 between July 31, 2012 and October 31, 2012, inclusive (the Class Period). 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, Cirrus’s increased fiscal 2013 guidance was not attainable. Full Article
Law Offices of Todd M. Garber Announces Investigation of Cirrus Logic Inc
The Law Offices of Todd M. Garber announced that it is investigating potential claims against Cirrus Logic Inc 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. Full Article
Holzer Holzer & Fistel, LLC Announces That It Has Filed Class Action Lawsuit On Behalf Of Investors In Cirrus Logic Inc
Holzer Holzer & Fistel, LLC has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Cirrus Logic Inc who purchased shares between July 31, 2012 and October 31, 2012. The lawsuit alleges, among other things, Cirrus and certain of its officers violated the federal securities laws by issuing false and misleading statements during the Class Period that, according to the complaint, failed to adequately disclose: Cirrus's dependence on Apple, Inc. (its biggest customer) for revenues was increasing rather than diminishing; Cirrus's sales growth was falling rather than increasing; difficulties in Cirrus's supply chain and at its vendors were increasing costs and diminishing the Company's profit margins going forward; the launch of several models of Cirrus's new LED lighting had been delayed; and as a result, defendants knew Cirrus's increased fiscal 2013 guidance was not attainable. Full Article
Glancy Binkow & Goldberg LLP Announces Investigation Of Cirrus Logic Inc
Glancy Binkow & Goldberg LLP announced that it is investigating potential claims on behalf of purchasers of the common stock of Cirrus Logic, Inc. (Cirrus or the Company) between July 31, 2012 and October 31, 2012 concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by Cirrus were false and misleading concerning the Company`s business and financial prospects. The investigation is related to allegations that the Company misrepresented or failed to disclose that: the Company`s dependence for revenues on its biggest customer Apple, Inc. was increasing rather than diminishing; the Company`s sales growth was declining rather than increasing; difficulties in its supply chain, and at its vendors, were increasing Cirrus`s costs and diminishing the Company`s profit margins; the launch of several models of Cirrus`s new LED lighting had been delayed; and as a result, Cirrus`s increased fiscal 2013 guidance was not attainable. Full Article
Rigrodsky & Long, P.A. Announces Securities Fraud Class Action Lawsuit Has Been Filed Against Cirrus Logic Inc
Rigrodsky & Long, P.A. announced that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of Cirrus Logic, Inc. (Cirrus or the Company) between July 31, 2012 and October 31, 2012 (the Class Period), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the Complaint). The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company`s business, operations and prospects. Specifically, the Complaint alleges that: Cirrus` dependence on Apple for revenues was increasing not diminishing; Cirrus` sales growth was falling rather than increasing; Difficulties in Cirrus` supply chain and at its vendors were increasing costs and diminishing the Company`s profit margins going forward; The launch of several models of Cirrus` new LED lighting had been delayed; and as a result, Defendants knew Cirrus` increased fiscal 13 guidance was not attainable. As a result of defendants` false and misleading statements, the Company`s stock traded at artificially inflated prices during the Class Period. Several Cirrus senior executives capitalized on these inflated prices, selling more than $11 million of the Company`s shares during the Class Period. Full Article
UPDATE 4-Supplier woes stir Apple demand fears, Asian parts makers dive
* Cirrus Logic outlook fans worry on Apple's product demand
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