Monday, September 21, 2009

International Rectifier Avoids Legal Investigation

El Segundo-based International Rectifier, a developer of analog and mixed signal ICs, announced today that it has been notified by the U.S. Attorney for the Central District of California, that it has concluded its investigation and won't be taking any action. The investigation was related to prior restatements by the firm. IR said that the U.S. Attorney has decided not to bring any action against the Company or any of its current or former directors, officers or employees. International Rectifier has been battling issues related to restatement of income in various quarters from 2003 through 2006, based on accounting irregularities at the firm's Japanese subsidiary. The issues first came to light in May of 2007.

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