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Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against OCZ Technology Group, Inc.

Saturday, November 10, 2012 4:30 PM


The Law Offices of Todd M. Garber announces that shareholders of OCZ Technology Group, Inc. (“OCZ” or the “Company”) (NASDAQ:OCZ) have until December 10, 2012 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Northern District of California. The lawsuit was filed on behalf of a class (the “Class”) comprising all persons or entities who purchased the securities of OCZ between July 10, 2012 and October 11, 2012, inclusive (the “Class Period”).

OCZ engages in the design, manufacture and distribution of high-performance solid-state storage solutions and premium computer components. The Complaint alleges that throughout the Class Period the Company and certain of its executive officers made false and/or misleading statements and/or failed to disclose that: (1) the Company was providing extraordinary customer incentives in excess of what was normal and customary in the past; (2) the Company was improperly accounting for customer incentive programs; (3) as a result, the Company’s financial results were misstated during the Class Period; (4) the Company lacked adequate internal and financial controls; (5) as a result, defendants’ statements were materially false and misleading; and (6) as a result of the foregoing, defendants’ positive statements about OCZ’s business, operations and prospects lacked a reasonable basis.

If you are a member of the above-described Class, you may move the Court no later than December 10, 2012 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

(Source: Business Wire )
(Source: Quotemedia)

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