news digest ♦ LEDs
disclose that prices for its products were experiencing extreme pricing pressure from its customers, significantly reducing the average selling price of its products.
The complaint further alleges that SemiLEDs released financial statements that were not indicative of future operating results because the company failed to disclose known events and uncertainties, including a decline in product demand, the likely loss of a significant customer, and the decline in the value of its inventory.
As a result of these so-called false and misleading statements and omissions, SemiLEDs shares traded at artificially inflated prices during the Class Period, reaching a high of $32.12 per share on December 21st, 2010.
Soraa’s gallium nitride LED
technology spurs expansion Its GaN on GaN LED MR16 lamps have encouraged the firm to expand its global sales team
A surge in demand for Soraa’s full visible spectrum has led the company to appoint two new leaders to its sales organisation - George Stringer and Nick Farraway.
Stringer joins the company as Senior Vice President of North America Sales and Farraway joins as Senior Vice President of International Sales. Both will report to Tom Caulfield, President and COO of Soraa.
“The Soraa VIVID LED MR16 lamp is widely regarded as the best in the world in terms of brightness and colour rendering - this has fuelled sales growth over the past year and created the need to expand our sales organisation,” says Caulfield. “Both George and Nick bring energy, ingenuity and industry insight to help us chart a successful course for the company in the coming years.”
Nick Farraway, Senior Vice President of International Sales, Soraa
An internationally recognised lighting expert with over 30 years of global industry experience, Nick Farraway brings a wide range expertise in lamps, fixtures and applications to the Soraa team.
He previously held senior executive roles at Sylvania, Thorn and Zumtobel Lighting; working through all channels from international project specification to general wholesale distribution and retail.
He led the successful bid teams on several prominent international projects, including London Heathrow Airport Terminal 5 and Wembley International Football Stadium. Farraway holds a BEng from Middlesex University.
“Soraa maintains a rare agility that consistently outperforms the competition, not only in the inventiveness and quality of its products, but also in their ability to manoeuvre within the marketplace to create new business opportunities. I’m thrilled to join the company at such an exciting time,” comments Farraway.
Farnell and Würth Elektronik sign exclusive LED agreement
Farnell element14 will exclusively stock Würth Elektronik’s new range of LEDs
George Stringer, Senior VP of North America Sales, Soraa
Stringer comes to Soraa following 16 years with Acuity Brands Lighting in a variety of senior level sales and sales management roles.
His last role at Acuity was as Vice President and General Manager for Corporate Accounts, Renovation, and Government; where he revitalised the National Account organisation.
He brings to Soraa considerable expertise in all sales 88
www.compoundsemiconductor.net August/September 2013
LED’s primary applications are as signals for status indication in electronic equipment and in the industrial electronics sector.
But they are also used in many other applications such as scoreboards, keyboards, display panels, vending machines, audio and HiFi equipment, toys, background lighting for mobile applications.
Würth Elektronik says its LED’s advantages include low energy consumption, high reliability, low current, and fast switching times. Also with design flexibility and no UV/IR radiation, the compact devices are ideal for miniature applications. They also
channels and motions; direct, distribution, manufacturer’s representatives, and national and regional accounts.
“Response to Soraa’s products from the marketplace has been extraordinary and I’m excited to be part of its seasoned and professional management team,” says Stringer.
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