Friday, January 29, 2010

International Rectifier Cleared By SEC

El Segundo-based International Rectifier, a developer of analog, digital, and mixed signal power management ICs, said Thursday afternoon that the firm has been notified by the U.S Securites and Exchange Commission that the agency has concluded its investigation of the firm, and would not recommend any enforcement action against the company. IR had been under scrutiny by the SEC since 2007, after the firm restated its results, and had a major management shakeup which saw the turnover of its CFO, VPs, and CEO on accounting irregularities.