8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549



                                    FORM 8-K


                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported): October 10, 2003





                                   CREE, INC.
             (Exact name of registrant as specified in its charter)


  North Carolina                    000-21154                     56-1572719
 (State or other            (Commission File Number)           (I.R.S. Employer
  jurisdiction                                               Identification No.)
of incorporation)



                4600 Silicon Drive, Durham, North Carolina 27703
                    (Address of principal executive offices)



                                 (919) 313-5300
              (Registrant's telephone number, including area code)


                                       N/A
          (Former name or former address, if changed since last report)

Item 9.  Regulation FD Disclosure.

On  October  10,  2003,  Cree,  Inc.  (the  "Company")  issued  a press  release
announcing the conclusion of the previously announced investigation by a special
committee of its Board of Directors  into  allegations  of corporate  wrongdoing
made by Eric and  Jocelyn  Hunter.  A copy of the  Company's  press  release  is
attached  to  this  report  as  Exhibit  99.01  and is  incorporated  herein  by
reference.

     The information in this Current Report on Form 8-K is furnished pursuant to
Item 9 and shall not be deemed to be "filed"  for the  purposes of Section 18 of
the  Securities  Exchange Act of 1934, as amended,  or otherwise  subject to the
liability of that section.  Furthermore,  the information in this Current Report
on Form 8-K shall not be deemed to be incorporated by reference into the filings
of the Company under the Securities Act of 1933, as amended.

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                     CREE, INC.



                                 By:     /s/ Cynthia B. Merrell
                                     ------------------------------------------
Dated:  October 10, 2003             Cynthia B. Merrell
                                     Chief Financial Officer

                                  EXHIBIT INDEX

Exhibit No.                     Description of Exhibit
- -----------                     ----------------------

  99.01                         Press release, dated October 10, 2003

EX-99.01

                                                                   Exhibit 99.01


FOR IMMEDIATE RELEASE                            NEWS RELEASE


Contact: Fran Barsky
         Investor Relations Manager
         Cree, Inc.
         (T) 919-313-5397
         (F) 919-313-5615
         Fran_Barsky@Cree.com


                            CREE ANNOUNCES RESULTS OF
                         SPECIAL COMMITTEE INVESTIGATION

Durham, NC, October 10, 2003-Cree,  Inc. (Nasdaq: CREE) today announced that the
special  committee  of its  Board of  Directors  has  completed  its  previously
announced  investigation  into allegations of corporate  wrongdoing made by Eric
and Jocelyn  Hunter in court  filings  and  otherwise.  The special  committee's
report,  delivered to the full Board of Directors,  states: "[T]he Committee did
not discover any  evidence to support any of the  allegations  contained in [the
Hunters']   Complaint   or   pre-litigation   correspondence.   Based   on   the
Investigation, the Committee concludes all of the allegations lack merit."

The special  committee  was  established  by Cree's Board on June 14, 2003.  The
committee was composed of independent  directors who retained  independent legal
counsel to assist and advise the  committee  in its  investigation.  The special
committee   issued  its  report  after  more  than  three  months  of  intensive
investigation,  which  included  examining  over 50,000 pages of  documents  and
conducting more than 25 interviews.

Cree also noted that the Hunters  stated in a court  filing  Thursday  that they
have  decided  to  dismiss  without  prejudice  their  claims  alleging  federal
securities  fraud and unfair or deceptive trade  practices.  As to the remaining
claims contained in the Complaint,  the Hunters opposed Cree's motion to dismiss
which is pending before the court.

Cree is an advanced  semiconductor  company  that  leverages  its  expertise  in
silicon carbide, gallium nitride and silicon materials technology to produce new
and  enabling  semiconductors.   The  products  include  blue,  green  and  near
ultraviolet  (UV) light emitting  diodes,  near UV lasers,  radio  frequency and
microwave devices, and power switching devices.  Applications for these products
include solid state illumination,  optical storage,  wireless infrastructure and
power switching. For more information on Cree, please visit www.cree.com.


Statements  in this press  release that are not solely  historical in nature may
constitute  "forward-looking  statements"  within  the  meaning  of the  Private
Securities  Litigation  Reform  Act of  1995.  Such  forward-looking  statements
involve risks and uncertainties,  both known and unknown, which may cause actual
results  to  differ  materially  due to a number  of  factors,  including  risks
associated  with  our  pending  securities  and  other  litigation,  such as the
considerable  management time and attention  required and  substantial  expenses
incurred  regardless  of its outcome and the  potential  negative  impact on our
operations and financial statements of an adverse result, including with respect
to our pending  motion to dismiss.  In  addition,  the  Securities  and Exchange
Commission has requested that we provide  information in response to an informal
inquiry.  The outcome of the  Securities  and Exchange  Commission  inquiry also
could adversely affect our business and financial statements. The conclusions of
either the pending  Hunter or class  action  litigation  or the  Securities  and
Exchange  Commission  inquiry  could be different  than the  conclusions  of the
special  committee.  The  conclusions of the special  committee are based on the
information  reviewed by the committee and are limited to matters alleged by the
Hunters in the  complaints  and in certain  pre-litigation  correspondence.  The
company  is also  subject  to other  risks  discussed  in our  filings  with the
Securities  and Exchange  Commission,  including our report on Form 10-K for the
year ended June 29, 2003 and prior and subsequent reports.

Cree and the Cree logo are registered trademarks of Cree, Inc.

                                      ####