Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against OCZ Technology Group, Inc. (“OCZ” or “Company”) (NasdaqCM: OCZ) and its officers and Board of Directors for potential breaches of fiduciary duties and violations of federal securities laws between July 10, 2012 and October 10, 2012.
If you are an affected investor who purchased shares between July 10, 2012 and October 10, 2012 (“Class Period”) and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
In a recently filed federal class action complaint, the Company and certain of its officers and directors were charged with violating the Securities Exchange Act of 1934. During the class period, it’s alleged that defendants misrepresented and/or failed to disclose material adverse facts concerning the Company’s financial statements. Specifically, OCZ told investors that its net revenue would be in the range of $130 to $140 million. On October 10, 2012, OCZ announced that the previously announced preliminary fiscal second quarter results were not accurate and that it would not be timely filing its Form 10Q with the SEC. OCZ said that the revenue would be materially lower than previously announced because of the impact of customer incentive programs that were in excess of what is normal and customary. As a result of defendants’ false statements, OCZ’s common stock traded at artificially inflated prices during the Class Period.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.