Contact Information: Contact: Jeffrey S. Abraham, Esq. Arthur J. Chen, Esq. Abraham, Fruchter & Twersky, LLP One Penn Plaza, Suite 2805 New York, New York 10119 Tel.: (212) 279-5050
Abraham, Fruchter & Twersky, LLP Files Class Action Suit Against SiRF Technology Holdings, Inc.
| Source: Abraham, Fruchter & Twersky, LLP
NEW YORK, NY--(Marketwire - February 13, 2008) - Abraham, Fruchter & Twersky, LLP filed a class
action lawsuit in the United States District Court for the Northern
District of California on behalf of purchasers of the common stock of SiRF
Technology Holdings, Inc. ("SiRF" or the "Company") (NASDAQ : SIRF ) during
the period between October 30, 2007 through February 4, 2008 (the "Class
Period").
The Complaint alleges that the Company and certain of its officers and
directors violated Sections 10(b) and 20(a) of the Securities Exchange Act
of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of
false and misleading statements concerning the Company's financial
condition and future prospects.
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.
Plaintiff seeks to recover damages on behalf of all purchasers of SiRF's
common stock during the Class Period (the "Class"). The Plaintiff is
represented by Abraham, Fruchter & Twersky, LLP which has extensive
experience in securities class action cases, having been ranked among the
leading class action law firms in terms of recoveries achieved by a survey
of class action law firms conducted by Institutional Shareholder Services.
If you would like to discuss this action or if you have any questions
concerning this notice or your rights as a potential class member or lead
plaintiff, you may contact: Jeffrey S. Abraham or Arthur J. Chen of
Abraham, Fruchter & Twersky, LLP at 212-279-5050, or via e-mail at
jabraham@aftlaw.com or achen@aftlaw.com, respectively. If you wish to serve
as lead plaintiff, you must move the Court no later than April 8, 2008. Any
member of the proposed class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and remain a
member of the proposed class.