I just read in the headlines section of Yahoo....there are now 5 law firms going after Cirrus?? Are you kidding me? Remember, all longs here, including me, like to think this has no merit. We also all thought Cirrus would be trading at $60 by now (Feb 2013). But we're not. Proof that our wishes don't always come true. We are half of what Cirrus should be trading at. So now, with these lawsuits, we "like to think" it has no merit. Again.....longs wishing for the best, but probably not facing reality. One thing I've always noticed is that holders (longs) of stocks tend to put on rose-colored glasses and filter out negatives when they are in fact real and damaging. And I say this as someone with a large investment in Cirrus since the 1990's. I WANT them to succeed....but what the hec is going on?? Now there are 5 law firms.....what the hec is going on? How can we perform like we have, and with a bright future, yet trade ttm PE of 12?? Makes absolutely no sense.
Clarification -- not multiple lawsuits - law firms fishing for position - to see who gets appointed as lead plaintiff
The law firms are jocking for position to see who can be assigned the lead law firm on the case.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than April 5, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.
interesting this one only wants you if you qualify with $200k or more ...
Brower Piven Encourages Investors Who Have Losses in Excess of $200,000 From Investment in Cirrus Logic, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the April 5, 2013 Lead Plaintiff Deadline -- CRUS