Cirrus Logic Announces Receipt of $25 Million Settlement Payment
June 16 2005 - 6:08PM
Business Wire
Cirrus Logic Inc. (Nasdaq:CRUS) today announced the receipt of a
$25 million payment related to a settlement and release of all
claims between Cirrus Logic, Fujitsu Ltd., Amkor Technology Inc.
and Sumitomo Bakelite Co. Ltd. over the alleged failure of certain
semiconductor chips sold by Cirrus Logic to Fujitsu. On April 28,
2005, Cirrus Logic announced that a settlement had been reached
that would result in a payment to Cirrus Logic in the amount of $25
million. The parties have since finalized settlement documents and
filed requests to dismiss all pending claims between these parties.
Cirrus Logic Inc. Cirrus Logic develops high-precision, analog-rich
mixed-signal integrated circuits for a broad range of consumer and
industrial markets. Building on its diverse analog mixed-signal
patent portfolio, Cirrus Logic delivers highly optimized products
for consumer and commercial audio, automotive entertainment and
industrial applications. The company operates from headquarters in
Austin, Texas, with offices in Colorado, Europe, Japan and Asia.
More information about Cirrus Logic is available at www.cirrus.com.
Cirrus Logic and Cirrus are trademarks of Cirrus Logic Inc.
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