October 27, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Exar Corporation (NYSE:EXAR) shares over potential securities laws violations by Exar 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 Exar Corporation (NYSE:EXAR) concerning whether a series of statements by Exar regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On May 12, 2015 Exar Corporation announced its further quarter and fiscal year 2015 financial results. Exar Corporation reported that its Total Revenue rose from $125.32 million for the 52 weeks period that ended on March 30, 2014 to $162.05 million for the 52 weeks period that ended on March 29, 2015 and that its Net Income of $5.80 million for the 52 weeks period that ended on March 30, 2014 declined to a Net Loss of $44.97 million for the 52 weeks period that ended on March 29, 2015.

On August 4, 2015, Exar Corporation announced its frist quarter fiscal year 2016 financial results.

On October 20, 2015, Exar Corporation announced that its Board of Directors has appointed Chairman of the Board, Richard L. Leza, as interim President and Chief Executive Officer and that Mr. Leza's appointment follows a mutual agreement by the Company's Board of Directors and Louis DiNardo that he will step down as President and Chief Executive Officer and as a member of the Board of Directors.

Shares of Exar Corporation (NYSE:EXAR) declined from $11.02 per share on May 22, 2015, to as low as $5.23 per share on October 22, 2015.