UPCOMING DEADLINE: Levi & Korsinsky Notifies Investors with Losses on Their Investment in Cirrus Log
UPCOMING DEADLINE: Levi & Korsinsky Notifies Investors with Losses on Their Investment in Cirrus Logic, Inc. of Class Action Lawsuit and the Deadline of April 5, 2013 to Seek a Lead Plaintiff Position
NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky announces that a class action lawsuit has commenced in the United States District Court for the Southern District of New York on behalf of investors who acquired Cirrus Logic, Inc. ("Cirrus" or "the Company") (NAS: CRUS) stock between July 31, 2012 and October 31, 2012.
For more information, click here: http://zlk.9nl.com/cirrus-logic-crus/.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's financial performance and prospects. In particular, it is alleged that defendants knew but concealed the following during the Class Period: (a) that the Company's dependence on Apple, Inc. for revenues was increasing rather than diminishing; (b) Cirrus's sales growth was falling rather than increasing; (c) difficulties in Cirrus's supply chain and at its vendors were increasing costs and diminishing the Company's profit margins; (d) the launch of several models of Cirrus's new LED lighting had been delayed; and (e) as a result of the aforementioned, defendants knew Cirrus's increased fiscal 2013 guidance was not attainable.
On October 31, 2012, Cirrus issued significantly lower guidance than was expected for fiscal 2013. In response to the Company's announcement, Cirrus stock fell from a close of $40.78 per share to $36.14 a share on November 1, 2012.
If you suffered a loss in Cirrus you have until April 5, 2013to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/cirrus-logic-crus/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Toll Free: 877-363-5972
KEYWORDS: United States North America New York
The article UPCOMING DEADLINE: Levi & Korsinsky Notifies Investors with Losses on Their Investment in Cirrus Logic, Inc. of Class Action Lawsuit and the Deadline of April 5, 2013 to Seek a Lead Plaintiff Position originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.