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|Cirrus Logic Provides Update on Stock Option Review|
AUSTIN, Texas – As a result of an on-going voluntary review of its historical stock option grant practices, Cirrus Logic Inc. today announced that it has filed with the United States Securities and Exchange Commission (the “SEC”) a Form 12b-25 indicating that it will not be able to file its Form 10-Q for its second fiscal quarter on or before the fifth calendar day following the prescribed due date under SEC rules.
As previously announced, Cirrus Logic’s Board of Directors has formed a Special Committee to voluntarily review the company’s historical stock option granting practices and related accounting matters. Although the timeframe for completing the Special Committee’s internal review is uncertain, Cirrus Logic remains committed to resolving these issues as quickly as possible. The company plans to file its form 10-Q for the second quarter of fiscal year 2007 as soon as practicable following the conclusion of the Special Committee’s review.
Cirrus Logic Inc.
Cirrus Logic develops high-precision, analog and mixed-signal integrated circuits for a broad range of consumer and industrial markets. Building on its diverse analog mixed-signal patent portfolio, Cirrus Logic delivers highly optimized products for consumer and commercial audio, automotive entertainment and industrial applications. The company operates from headquarters in Austin, Texas, with offices in Europe, Japan and Asia.
Viernes, 03 Noviembre, 2006 - 06:11