Shareholders Foundation, Inc.

OCZ Technology Group Inc. (NASDAQ:OCZ) Investor Alert: Investigation over Possible Violations of Securities Laws

An investigation for investors in OCZ Technology Group Inc. (NASDAQ:OCZ) shares over potential securities laws violations by OCZ Technology Group Inc. was announced and NASDAQ:OCZ stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (ReleaseWire) -- 10/15/2012 -- An investigation on behalf of investors of OCZ Technology Group Inc. (NASDAQ:OCZ) shares over potential securities laws violations by OCZ Technology Group Inc. (and certain of its directors and officers in connection certain financial statements was announced.

Investors who purchased shares of OCZ Technology Group Inc. (NASDAQ:OCZ), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of OCZ Technology Group Inc. (NASDAQ:OCZ) concerning whether a series of statements by OCZ Technology Group Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

OCZ Technology Group Inc. (NASDAQ:OCZ) reported that its Total Revenue rose from $190.12 million for the 12 months period that ended on February 28, 2011 to $356.77 million for the 12 months period that ended on February 29, 2012 and that its Net Loss decreased over the same time periods from $30.03 million to $17.67 million.

Shares of OCZ Technology Group Inc. (NASDAQ:OCZ) grew from $4.85 per share in September 2011 to as high as $9.35 per share in February 2012.

Since then NASDAQ:OCZ shares lost value.

Then on October 10, 2012, before the market opened, OCZ Technology Group, Inc. (NASDAQ: OCZ), announced that it will file a Notification of Late Filing with the Securities and Exchange Commission that allows the Company to extend the deadline to file its Form 10-Q for the second quarter of fiscal year 2013 (Q2'13), which ended on August 31, 2012.

OCZ Technology Group, Inc said its financial statements are still under review.

Shares of OCZ Technology Group Inc. (NASDAQ:OCZ) dropped from $3.16 per share on October 9, 2012, to as low as $1.47 on October 12, 2012.

Those who purchased shares of OCZ Technology Group Inc. (NASDAQ:OCZ) and currently hold those OCZ Technology Group shares, may have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com