Hagens Berman Sobol Shapiro, LLP, a national investor-rights law firm, today reminded investors who purchased stock in OCZ Technology Group, Inc. (NASDAQ: OCZ) (“OCZ”), that the Deadline to move for lead plaintiff in a securities class-action lawsuit brought on their behalf is Dec. 10, 2012, less than ten business days from today.
Investors who purchased or otherwise acquired OCZ Technology Group securities between July 10, 2012 and October 11, 2012, both dates inclusive (the “Class Period”), and who have losses exceeding $500,000, are encouraged to contact Hagens Berman Partner Reed R. Kathrein, who is leading the firm’s ongoing investigation into alleged securities violations. Investors can reach Mr. Kathrein by calling (510) 725-3000 or by emailing OCZ@hbsslaw.com.
Since Sept. 5, 2012, OCZ stock has plummeted over 75 percent. The President and CEO has resigned and OCZ has delayed announcing financial results.
OCZ disclosed on Nov. 15, 2012,that the SEC that the agency was “conducting an investigation,” and that as part of that investigation, “the Company also received a subpoena requesting certain documents and information generally related to its press releases on Sept. 5, 2012, and Oct. 10, 2012, and the financial reporting for customer incentive programs, among other matters.”Following the disclosure of the Securities and Exchange Commission’s investigation of OCZ on Nov. 21, 2012, OCZ’s stock price dropped 9 percent to $1.08. Multiple lawsuits have been filed in the United States District Court for the Northern District of California, alleging that OCZ made false or misleading statements to investors prior to announcing its preliminary revenues for the 2 nd quarter of the 2013 fiscal year on Sept. 5, 2012. The deadline to move for lead plaintiff is Dec. 10, 2012. More information about this investigation is available at http://hb-securities.com/investigations/OCZ. About Hagens Berman Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in 10 cities. The firm represents whistleblowers, workers and consumers in complex litigation. More about the law firm and its successes can be found at www.hbsslaw.com. The firm’s securities law blog is at www.meaningfuldisclosure.com.