Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the securities of OCZ Technology Group, Inc. (“OCZ” or the “Company”) (NASDAQ CM: OCZ) between July 10, 2012 and October 10, 2012, inclusive, (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company, certain of its officers and directors (the “Complaint”).
If you purchased shares of OCZ during the Class Period and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/ocz-technology-group-inc-ocz.
OCZ, a Delaware corporation headquartered in San Jose, California, designs, manufactures, and distributes high performance and reliable Solid-State Drives and premium computer components. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business operations, financial condition and prospects. Specifically, the Complaint alleges that the defendants failed to disclose : (1) that the Company was providing extraordinary customer incentives in excess of what was normal and customary in the past; (2) that the Company was improperly accounting for customer incentive programs; (3) that, as a result, the Company’s financial results were misstated during the Class Period; (4) that the Company lacked adequate internal and financial controls; (5) that, as a result, the Defendants’ statements were materially false and misleading; and (6) that, as a result of the foregoing, the Defendants’ positive statements about OCZ’s business, operations, and prospects lacked a reasonable basis. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
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