ClearOne (CLRO) Completes Arbitration with Morgan Stanley (MS), UBS (UBS)

ClearOne Communications, Inc. (Nasdaq: CLRO) previously reported in its periodic filings that the Company had filed arbitration proceedings against Morgan Stanley & Co., Inc. (NYSE: MS) and UBS Financial Services, Inc. (NYSE: UBS) with the Financial Industry Regulatory Authority seeking consequential damages with respect to auction rate securities (“ARS”) that Morgan Stanley and UBS sold to the Company and turned out to be illiquid. The arbitration sessions against Morgan Stanley were completed on October 8, 2012, and the arbitration sessions against UBS were completed on November 2, 2012. The Company expects to resolve and announce the outcome of both arbitration proceedings regarding its ARS before the end of this year.

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