Sirf Tech Hldgs Target Of Purported Class-Action Suit >SIRF
Last Update: 2/8/2008 7:21:38 PM
DOW JONES NEWSWIRES
Sirf Technology Holdings Inc. (SIRF) faces a purported class-action lawsuit from
shareholders, said law firm Coughlin Stoia Geller Rudman & Robbins LLC.
Representatives from Sirf couldn’t immediately be reached for comment.
The suit accuses the San Jose based semiconductor company and certain officers of
making materially false and misleading statements regarding the company’s
business and prospects.
The statements, the complain alleges, allowed one of the defendants to sell $9.6
million worth of Sirf stock at $24.18 to $24.29 a share.
The stock closed today at $7.22, 30 cents above its 52-week low of $6.90, reached
Thursday. Shares rose 9 cents to $7.31 after-hours.
-Adam O. Manzor; 201-938-5400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 08, 2008 19:17 ET (00:17 GMT)
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