Cirrus Logic Clarifies Notice of Shareholder Lawsuit
FREMONT, Calif. - Sept. 10, 1996 - For reasons unknown to Cirrus Logic, the lawyersrepresenting two Cirrus Logic shareholders issued a news release late yesterday to announce that they had filed a lawsuit in California State Court. Cirrus Logic reported today that the referenced lawsuit (County of Alameda: Case No. H 188961 9) was the same as that initiated by these plaintiffs' lawyers last February, and that the only developments in the case have been favorable to Cirrus Logic. Moreover, the lawsuit has been disclosed in Cirrus Logic's annual report, Form 10-K and Form 10-Q.
On August 22, 1996, the Court dismissed half of the plaintiffs' case with prejudice including all of the plaintiffs' claims under the California securities laws and the plaintiffs' claims for breach of fiduciary duty. On August 30, the Court stayed all proceedings pending its determination as to whether plaintiffs and their lawyers were adequate to represent a class. Neither plaintiffs nor their law firms
have been appointed to represent a class in this lawsuit.
Headquartered in Fremont, Calif., Cirrus Logic Inc. is a leading manufacturer of advanced integrated circuits for the desktop and portable computing, telecommunications, and consumer electronics
markets. Additional information about Cirrus Logic and its subsidiaries can be accessed on the World Wide Web at cirrus.com or via fax-on-demand at 800/359-6414 (dial
510/249-4200 from outside the United States). |
