International Rectifier says no SEC charges coming over accounting irregularities

International Rectifier says no SEC charges coming

EL SEGUNDO, Calif. — International Rectifier Corp., a maker of power management chips for satellites and aircraft, said Friday that federal regulators will not to file charges against the company after reviewing the restatement of its financial reports.

In 2007, the company disclosed that accounting irregularities at a foreign subsidiary, which may have inflated sales, affected the reliability of its earnings report for the fiscal year ended June 30, 2006 and two subsequent quarters. International Rectifier had to restate its earnings reports.

In July, the company settled a class-action lawsuit filed by shareholders over the accounting flap. The company and its insurers agreed to pay $90 million to settle all claims against itself and several former officers and directors.

An investigation by the Securities and Exchange Commission has been concluded, the company said.