Jan. 31, 2013 (Shareholders Foundation) -- An investigation on behalf of investors of Cirrus Logic, Inc. (NASDAQ:CRUS) shares over potential securities laws violations by Cirrus Logic, Inc. and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Cirrus Logic, Inc. (NASDAQ:CRUS) concerning whether a series of statements by Cirrus Logic, Inc. (NASDAQ:CRUS regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Cirrus Logic, Inc. reported that its Total Revenue rose from $369.57 million for the 52 weeks period that ended on March 26, 2011 to $426.84 million for the 52 weeks period that ended on March 31, 2012. However, Cirrus Logic, Inc. reported that its Net Income for those respective time periods declined from $203.50 million to $87.98 million.

On July 30, 2012, Cirrus Logic, Inc. reported its financial results for the first quarter, which ended June 30, 2012. Among other things, Cirrus Logic, Inc. also issued its second quarter revenue guidance.

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) grew from $25.57 per share on July 16, 2012 to as high as $44.885 per share in early Sept. 2012.

Then on October 31, 2012, Cirrus Logic, Inc. reported its financial results for the second quarter, which ended Sept. 29, 2012.

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) declined from $40.78 per share on October 31, 2012, to as low as $25.588 per share in mid-December 2012.