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

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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

 

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