|[March 22, 2013]
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 (News - Alert), Inc. ("Cirrus" or "the
Company") (Nasdaq: CRUS) stock between July 31, 2012 and October 31,
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 (News - Alert), 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, 2013 to
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.
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