SRS Weighs Stock Buy

Taking advantage of its low stock price, Santa Ana-based SRS Labs Inc. said Tuesday that its board of directors is considering buying up to 500,000 shares of its common stock over the next year.

If approved, the shares will be used for employee benefit plans and other general corporate purposes. Officials at the audio and voice technology firm said the board is expected to vote on the plan by the end of the next week.

SRS Labs’ stock price has been on a downward slide since hitting a 52-week high of $10.19 a share in March. On Tuesday, the company’s stock dropped 6 cents a share, closing at $2.75.