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TheStreet Open House

Harwood Feffer LLP Announces Investigation Of OCZ Technology Group, Inc.

NEW YORK, Oct. 15, 2012 /PRNewswire/ -- Harwood Feffer LLP ( www.hfesq.com ) is investigating potential claims against the board of directors of OCZ Technology Group, Inc. ("OCZ" or the "Company") (NASDAQ: OCZ), concerning whether the board has breached its fiduciary duties to shareholders.

(Logo: http://photos.prnewswire.com/prnh/20120215/MM54604LOGO )

OCZ engages in the design, manufacture and distribution of high-performance solid-state storage solutions and premium computer components.

On October 10, 2012 the Company announced that it was delaying the filing of its financial results for the second quarter of fiscal year 2013, which ended August 31, 2012. According to the Company, OCZ's second quarter revenue will be "materially lower" than its previous guidance of revenue in the range of $110 to $120 million, which was issued September 5, 2012, "principally due to the impact of customer incentive programs," and that the Company also expects to report a "significant net loss" for second-quarter 2013.  Additionally, OCZ announced on October 9, 2012, that the Company's Chief Executive Officer, Ryan M. Petersen, had resigned on September 17, 2012.

Current holders of OCZ shares may have a claim against the board for breaches of fiduciary duties, gross mismanagement, and/or abuse of control.  If you own OCZ shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq. Matthew M. Houston, Esq. Christopher J. SafrathHarwood Feffer LLP488 Madison Avenue New York, New York 10022Phone Numbers: (877) 935-7400(212)935-7400Email:        csafrath@hfesq.com Website:    http://www.hfesq.com

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website ( http://www.hfesq.com) for more information about the firm.

Attorney Advertising. © 2012 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP ( www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

 

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