The Lin Law Firm Announces Lead Plaintiff Deadline in OCZ Technology Group, Inc. Securities Class Action

LOS ANGELES, Oct. 22, 2012 /PRNewswire/ -- The Lin Law Firm, A Professional Law Corporation, announces that investors who purchased OCZ Technology Group, Inc. ("OCZ" or the "Company") securities during the period between July 10, 2012 and October 10, 2012, inclusive (the "Class Period") have until December 10, 2012 to request appointment as lead plaintiff in the shareholder class action filed in the United States District Court for the Northern District of California. 

OCZ designs, manufactures and distributes enterprise and consumer solid-state drives ("SSDs").  The lawsuit alleges that, during the Class Period, OCZ misrepresented the Company's business and financial condition by failing to disclose that it had promised to pay customers "incentives" in order to obtain sales, that OCZ's financial results were misstated, and that OCZ lacked adequate internal controls.  On October 10, 2012, when it was disclosed that OCZ was unable to file its Form 10-Q for the second quarter of 2013, that its second quarter 2013 revenue would be significantly lower than the guidance it previously provided, and that it expected to report negative gross margins and significant net loss for second quarter of 2013, the Company's stock price declined by more than 40% to close at $1.88 per share. 

If you purchased OCZ securities during the Class Period and suffered a loss, you have until December 10, 2012 to request that the Court appoint you as lead plaintiff.  A lead plaintiff is a representative party who acts on behalf of other class members in the litigation.  Your ability to share in any recovery does not require that you serve as a lead plaintiff. 

If you are a member of the Class and wish to discuss these matters or have any questions concerning this announcement or your rights, please contact Elizabeth Lin, Esq., The Lin Law Firm, toll-free at (866) 864-3898, at (909) 595-5522, or by email to [email protected].

The Lin Law Firm is a litigation law firm committed to representing investors nationwide in securities matters and protecting investors against corporate wrongdoing.  For additional information, please visit www.thelinlawfirm.com. 

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

SOURCE The Lin Law Firm, A Professional Law Corporation

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