Market Overview

AnalogicTech Concludes Internal Investigation and Moves Forward With Filing Its Third Quarter 10-Q


Advanced Analogic Technologies (Nasdaq: AATI), today announced that the Audit Committee of AnalogicTech's Board of Directors (the "Audit Committee") has completed its review of accounting allegations and found no improper conduct. The allegations were made by Skyworks Solutions, Inc. ("Skyworks") in connection with an arbitration proceeding then pending in the Delaware Court of Chancery regarding AnalogicTech's accounting treatment of certain revenue that the Company reported for the three months ended June 30, 2011.

The arbitration proceeding was settled and dismissed with prejudice on November 30, 2011 upon mutual request made by AnalogicTech and Skyworks. The Audit Committee, in consultation with independent outside legal counsel, has completed an internal investigation of these allegations, has found no improper conduct by AnalogicTech's officers, and has concluded that the Company's accounting practices with respect to revenue recognition for the three months ended June 30, 2011 were appropriate in all respects.

Posted-In: News Legal


Related Articles (AATI)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Fortress International Group Announces Changes; Anthony Angelini Named CEO and Director; Thomas P. Rosato Appointed Chairman; Peter Woodward Named Director

NVE Files Patent Infringement Suit Against Everspin Technologies