This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Lieff Cabraser Reminds OCZ Technology Group, Inc. Investors Of Upcoming Deadline In Class Action Lawsuits

Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the December 10, 2012 deadline to move for appointment as lead plaintiff in the securities class litigation against OCZ Technology Group, Inc. (“OCZ” or the “Company”) (NASDAQ: OCZ), brought on behalf of all persons or entities who purchased the securities of OCZ between July 10, 2012 and October 11, 2012, inclusive (the “Class Period”).

If you purchased or otherwise acquired OCZ securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than December 10, 2012. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

OCZ shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser toll-free at 1 (800) 541-7358.

The complaints charge OCZ and certain of its senior executives with violations of the Securities Exchange Act of 1934.

On September 5, 2012, OCZ significantly lowered its revenue forecast for the second quarter of fiscal year 2013 to between $110 million and $120 million, from earlier estimates of between $130 million and $140 million, due to supply constraints. Following this announcement, OCZ’s stock price fell over 20% to close at $4.35 on September 6, 2012.

On October 10, 2012, OCZ announced that it was unable to timely file its Form 10-Q for the fiscal second quarter, that its revenue for the quarter would be materially lower than earlier estimates, and that it expected to report negative gross margins and a significant net loss for the quarter. Defendants attributed the revised revenue estimate and filing delay to the impact of customer incentive programs. On this news, OCZ’s stock price fell another 40%, to close at $1.88.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs