February 15, 2008

SiRF Target of Class Action Lawsuit

SiRFhomelogo2.gif

With SiRFs disasterous earnings announcement earlier this month where they announced an 89% earnings drop, there are a bunch of pissed off shareholders and their lawyers. There is now a suit against them and is being filed as a class action lawsuit.

"The Complaint alleges that the defendants' false and misleading statements regarding demand for its products and its acquisition of Centrality Communications, Inc. ("Centrality") in August 6, 2007 caused SiRF stock to trade at artificially inflated levels throughout the Class Period. The Complaint further alleges that, as a direct result of defendants' delayed public revelations in a February 4, 2008 press release concerning the truth about demand for SiRF's products and its actual business prospects, SiRF's stock price tumbled by more than 50% on February 5, 2008."

Read More in: SiRF News

Share this Article with others: social bookmarking

Related Articles:

Came straight to this page? Visit GPS Lodge for all the latest news.

Posted by Scott Martin at February 15, 2008 8:14 AM

Recent Comments

Post a comment









Remember personal info?




Please enter the letter "z" in the field below:
Please press Post only once. Submission of comments takes up to 20 seconds because of Spam Filtering.
Join the Mailing List Mailing List
Enter your Email


Powered by FeedBlitz

facebook_badge.jpg twitter_badge.jpg

Subscribe - RSS
Site Navigation

Visit our other properties at Blogpire.com!

Archives

TechPiree

This weblog is licensed under a Creative Commons License.

Powered by
Movable Type 6.3.6
All items Copyright © 1999-2017 Blogpire Productions. Please read our Disclaimer and Privacy Policy