• Welcome to TechPowerUp Forums, Guest! Please check out our forum guidelines for info related to our community.

Block & Leviton Launches investigation of OCZ for Possible Violations

btarunr

Editor & Senior Moderator
Staff member
Joined
Oct 9, 2007
Messages
34,496 (9.18/day)
Likes
17,519
Location
Hyderabad, India
#1
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.

Block & Leviton's investigation seeks to determine, among other things, whether OCZ or its officers and directors have violated the Securities Exchange Act of 1934 or any other federal securities laws. If you have any information relevant to this investigation, or if you purchased OCZ shares between July 10, 2012 and October 10, 2012 and have questions about your legal rights, please contact Mark A. Delaney at 617-398-5600 or via email at mark@blockesq.com.

Block & Leviton is a Boston-based law firm representing investors for violations of the securities laws. The firm's attorneys have collectively been prosecuting securities cases on behalf of investors for over 50 years.
 

FreedomEclipse

~Technological Technocrat~
Joined
Apr 20, 2007
Messages
17,215 (4.38/day)
Likes
5,411
Location
London,UK
System Name Codename: Rapture X Mk.VI {Still....MoonPig Edition}
Processor Intel 3930k@4.5Ghz
Motherboard Asus P9X79 PRO
Cooling Corsair H105 {2x Corsair ML 120 Pro}|VRM: Antec Spotcool 100
Memory 32GB DDR3 Kingston HyperX Beast 2400Mhz {8x4GB}
Video Card(s) MSI 1070 Gaming X (Samsung)
Storage 512GB Samsung 850 Pro (Boot)|1x 512GB Crucial MX100|2x 3TB Toshiba DT01ACA300
Display(s) Asus PB278Q 27"
Case Corsair 760T (White) {1x140mm NB PK-3, 2x Corsair AF140}
Audio Device(s) Creative SB Z {Speakers: Logitech Z-5500 }
Power Supply Corsair AX760
Mouse Logitech G900 Chaos Spectrum
Keyboard Duckyshine Dead LED(s) III
Software Windows 7 7600 x64
Benchmark Scores ( ͡°( ͡° ͜ʖ( ͡° ͜ʖ ͡°)ʖ ͡°) ͡°)
#2
This doesnt surprise me at all. OCZ SSD's have been going down hill for long time now. And since they primarily only really make PSUs and SSDs, with so much competition and one of the product lines not bringing home the bacon they are definitely gonna fall behind.

I bet they wish they still had their RAM department.
 

de.das.dude

Pro Indian Modder
Joined
Jun 13, 2010
Messages
8,203 (2.95/day)
Likes
2,394
Location
Pune
System Name la de da... | Samsung NP355V5C-S05IN
Processor FX 8320 | AMD A8-4500
Motherboard ASRock 990FX Extreme 4 | Samsung something something
Cooling CM Hyper 212 EVO push:pull+ 1 panaflow 113CFM + 2 x 120mm NZXTs | Coolermaster Notepal
Memory 2x4GB DDR3 Corsair Vengeance 1600MHz CL9 | Samsunng 4GB + 2GB DDR3 1600MHz
Video Card(s) AMD 7790 GHZ edition! | 7670M + 7640G
Storage 1TB WD10EZEX | W.D 500GB Green AADS | Samsung 1TB
Display(s) dell S2240l 1080p IPS 21.5" | Samsung antiglare 15.6"
Case NZXT Guardian 921RB(@home) and Antec ASK4000B U3(Current)
Audio Device(s) Realtek ALC892 with THX True Studio | Realtek something
Power Supply Corsair GS600 | 90W Brick, 6 cell 48000mAh battery
Mouse Logitech G400, GOD TIER MOUSE!! LOGitech F310 gamepad!
Keyboard Logitech K200
Software Windows 8.1 x64 | Windows 8.1 x64
Benchmark Scores real men do bench presses not bench marks.
#3
OCZ leaving the ram dept was a bad idea. not every one needs SSDs or swanky PSUs, but all computers need RAM to run on..
 

FreedomEclipse

~Technological Technocrat~
Joined
Apr 20, 2007
Messages
17,215 (4.38/day)
Likes
5,411
Location
London,UK
System Name Codename: Rapture X Mk.VI {Still....MoonPig Edition}
Processor Intel 3930k@4.5Ghz
Motherboard Asus P9X79 PRO
Cooling Corsair H105 {2x Corsair ML 120 Pro}|VRM: Antec Spotcool 100
Memory 32GB DDR3 Kingston HyperX Beast 2400Mhz {8x4GB}
Video Card(s) MSI 1070 Gaming X (Samsung)
Storage 512GB Samsung 850 Pro (Boot)|1x 512GB Crucial MX100|2x 3TB Toshiba DT01ACA300
Display(s) Asus PB278Q 27"
Case Corsair 760T (White) {1x140mm NB PK-3, 2x Corsair AF140}
Audio Device(s) Creative SB Z {Speakers: Logitech Z-5500 }
Power Supply Corsair AX760
Mouse Logitech G900 Chaos Spectrum
Keyboard Duckyshine Dead LED(s) III
Software Windows 7 7600 x64
Benchmark Scores ( ͡°( ͡° ͜ʖ( ͡° ͜ʖ ͡°)ʖ ͡°) ͡°)
#4
not every one needs SSDs or swanky PSUs, but all computers need RAM to run on..
Thats funny..... Last time my pc didn't have a PSU i swear i couldn't turn it on.
 

Fourstaff

Moderator
Staff member
Joined
Nov 29, 2009
Messages
9,382 (3.15/day)
Likes
2,103
Location
Home
System Name Asus K50-X5DAB \\ Orange!
Processor Athlon QL-65 2.2Ghz \\ 3570K
Motherboard Laptop \\ ASRock z77 Extreme4
Cooling Laptop \\ H100i
Memory 1x1GB + 1X2GB \\ 2x4Gb 1600Mhz CL9 Corsair XMS3
Video Card(s) Mobility Radeon HD4570 512mb \\ Zotac 660Ti OC 2Gb
Storage 250Gb \\ Samsung 840 250Gb + Toshiba DT01ACA300 3Tb
Display(s) 15.6" 1366x768 \\ LG 22EA53VQ
Case Laptop Chassis \\ NZXT Phantom 410 Black/Orange
Power Supply Power Brick \\ Corsair CXM500w
#5
Thats funny..... Last time my pc didn't have a PSU i swear i couldn't turn it on.
Silly, you shouldn't have cleared the magic dust bunnies in your pc. PSU is only a decoration :slap: