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OCZ Technology Issues Update for Investors

OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, provides business update for the fourth quarter of 2013.

The Company is disclosing certain preliminary information about its fourth quarter of fiscal 2013 that ended on February 28, 2013, subject to certain closing procedures and further review by the Company and its auditors. As previously reported the Company estimated that revenue in each of the unreported quarters ending August 31, 2012 and November 30, 2012 is in the range of $65 million to $85 million. This range takes into effect the impact of the reclassification of certain customer costs from operating expenses to revenue, the significant reduction in channel inventory, the timing of revenue recognition and reserves for product returns. The preliminary revenue range for the unreported fourth quarter of fiscal 2013 is estimated to be between $65 million and $70 million.

Marvell Technology Group Seeks to Overturn Jury's Patent Infringement Findings

Marvell (NASDAQ: MRVL), a global leader in integrated silicon solutions, announced that on December 26, 2012, a jury in Pittsburgh delivered a verdict in a lawsuit brought by Carnegie Mellon University ("CMU") against Marvell and Marvell Semiconductor, Inc. ("MSI"), Marvell's U.S. operating subsidiary, in the United States District Court for the Western District of Pennsylvania. In the lawsuit, CMU asserted that Marvell infringed two CMU patents claiming a specific technique related to read channel detector technology that is not practiced by any Marvell chips.

Specifically, the patents at issue are U.S. Patent Nos. 6,201,839 and 6,438,180. Marvell and MSI strongly believe the theoretical methods described in these patents cannot practically be built in silicon even using the most advanced techniques available today, let alone with the technology available a decade ago. Rather, Marvell and MSI use their own patented read channel technology developed in house. Nevertheless, the jury disagreed with Marvell and MSI's position and found that the patents were literally and willfully infringed and valid, and awarded damages in the amount of $1.17 billion.

OCZ Technology Investigation Substantially Complete, Plans Restatement of Financials

OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced that the Audit Committee's investigation, assisted by third party legal and financial advisors, has been substantially completed and a preliminary report has been provided to the Audit Committee. While there continue to be various matters requiring further investigation, the Company believes they will be concluded shortly. The Audit Committee has approved this report and, in consultation with management, concluded that the Company should restate the results for the first quarter of fiscal 2013, as well as the results for certain quarters of fiscal 2012 and for the fiscal year 2012.

The restatements primarily relate to the timing of revenue recognition, the classification of certain customer incentive costs and for the level of reserves for product returns. The number of prior periods affected and the impact of the adjustments will be disclosed in more detail in the Company's restated financial statements, which will be provided as soon as practical. The Board and management are in discussions with Crowe Horwath LLP, the Company's independent auditors regarding the matters identified in the investigation.

Apple Loses Design Patent Appeal Against Samsung Galaxy Tab in UK

A British court ruled that Samsung Galaxy Tab did not pose a copyright infringement of Apple iPad. Apple and Samsung are locked in design patent infringement lawsuits around the world, with the UK being an important market for both. In addition to its ruling, the court told Apple to issue a public apology to Samsung and its customers in advertisements, with a font size no smaller than Arial 14. The court of appeal upheld its judgement that and Samsung did not infringe Apple's design.


Source: Reuters

Block & Leviton Launches investigation of OCZ for Possible Violations

Block & Leviton LLP, a Boston -based law firm representing investors nationwide, is investigating possible securities law violations involving OCZ Technology Group, Inc. ("OCZ" or the "Company") (NASDAQ: OCZ).

The investigation is related to allegations that certain statements issued by the Company between July 10, 2012 and October 10, 2012 concerning OCZ's financial performance were knowingly false and misleading when made. On Wednesday, October 10, 2012, the Company issued a press release announcing that it was delaying the filing of its financial results for the second quarter of fiscal year 2013, which ended August 31, 2012. The press release also disclosed that the Company's second quarter revenue will be "materially lower" than its previous guidance released on September 5, 2012, which was in the range of $110 to $120 million, "principally due to the impact of customer incentive programs," and that the Company expects to report a "significant net loss." Shortly after the release of this news, shares of OCZ dropped nearly 42 percent from a close of $3.15 on October 9, 2012 to close at $1.88 per share on October 10, 2012.

Black Ops 2 Could Put Activision in Legal Trouble

Activision is already going at it in court with Jason West and Vince Zampella over their dismissal from Infinity Ward in 2009, but a clause in a Memorandum of Understanding filed with the lost wages and royalties suit in 2010 could affect the recently announced Call of Duty: Black Ops 2. According to Game Informer, Activision continues to hold the rights to the Call of Duty franchise, but Call of Duty games set in "modern day (post Vietnam), the near future or distant future" would be retained by Infinity Ward. With Black Ops 2 set in 2025, developer Treyarch put a lot of thought in the futuristic setting. An intellectual property attorney said that, if West and Zampella win their suit, Activision could be forced to pull the game, but a more likely scenario is money damages awarded by the court.

However, clause 4(D) at the end of the memorandum specifically states that if IW management (Ward and Zampella) are no longer employed by Activision, then the terms of the memorandum are no longer in effect. This seems to override any potential problem, but it is yet another issue that the court must rule on. With Black Ops 2 setting pre-order records, the game could be a cash cow for Activision. A ruling against the publishing giant, though, could mean West and Zampella would get prime cuts of that cow if the employment clause is not enforced.

Source: Shacknews

Activision Blizzard Being Sued for Virtual World Infringement

ShackNews is reporting Activision Blizzard is being sued by Worlds Inc., for violating a patent on virtual worlds. The firm claims that games like Call of Duty and World of Warcraft violate its patent, and are requesting "fair compensation." The patent covers a "system and method for enabling users to interact in a virtual space," reports Games Industry International. That may sound broad, but the company did manage to get an undisclosed settlement out of NCSoft for City of Heroes in 2010. "Technologies created by Worlds have helped the businesses of virtual worlds gaming and the sale of virtual goods to grow into a multi-billion dollar industry," said Worlds CEO Thom Kidrin. "While we are pleased to see that the gaming industry and its rapidly growing customer base have enthusiastically embraced our patented technologies, we deserve fair compensation for their use." No response yet from Activision Blizzard.Source: ShackNews
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