SEC Won't Pursue Cirrus Logic Over Backdating

Law360, New York (March 4, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has decided not to file any charges against semiconductor developer Cirrus Logic Inc. for alleged stock option backdating.

The SEC notified Cirrus in writing that it had completed an investigation into the company's stock option practices and did not intend to recommend any enforcement action, according to a Cirrus SEC filing Monday.

The company announced in November 2007 that the SEC's enforcement division was conducting a formal investigation into the company's historical stock option practices. The agency had been conducting...
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