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Holzer Holzer & Fistel, LLC Announces That It Has Filed a Class Action Lawsuit on Behalf of Investors in Cirrus Logic, Inc.
By: Marketwired .
Feb. 7, 2013 03:12 PM
ATLANTA, GA -- (Marketwire) -- 02/07/13 -- 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. ("Cirrus" or the "Company") (NASDAQ: CRUS) 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: (i) Cirrus's dependence on Apple, Inc. (its biggest customer) for revenues was increasing rather than diminishing; (ii) Cirrus's sales growth was falling rather than increasing; (iii) difficulties in Cirrus's supply chain and at its vendors were increasing costs and diminishing the Company's profit margins going forward; (iv) the launch of several models of Cirrus's new LED lighting had been delayed; and (v) as a result, defendants knew Cirrus's increased fiscal 2013 guidance was not attainable.
If you purchased Cirrus common stock between July 31, 2012 and October 31, 2012, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than April 5, 2013. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Cirrus investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at email@example.com, or firstname.lastname@example.org, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
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