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Every day receive the best plan of attack for the next day's trading directly from professional trader Kevin Haggerty.| Amber Swift | by www.tradingmarkets.com. All rights reserved. | 6.11 | 20:41 |
The company, after Monday's closing bell, had stated that the company had found information that "raises potential questions" about the measurement dates used to account for certain stock-option grants. The company said that it would appoint a special board committee, which would conduct a more detailed review of option grants. In its second quarter results had revealed that its Board of Directors had formed a special committee to voluntarily review Cirrus Logic's historical stock option granting practices and related accounting matters.
The SEC has currently advised the company that the investigation should not be construed as either an indication by the SEC that any violations of law have occurred, or as an adverse reflection upon any person, entity or security. The company intends to cooperate fully with SEC's informal investigation. The CRUS stock closed Monday's regular trading session at $7.
21 at the Nasdaq Stock Exchange.
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