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… And Rigrodsky & Long …

Alleging violations of the Securities Exchange Act of 1934 vs. company and certain officers

Rigrodsky & Long, P.A., including former special assistant United States attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the common stock of SanDisk Corporationwww.sandisk.com between October 16, 2014 and March 25, 2015, inclusive, alleging violations of the Securities Exchange Act of 1934 against the company and certain of its officers.

The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the company’s business, operations and prospects.

Specifically, the complaint alleges that the defendants concealed from the investing public: (1) the company was experiencing certain production qualification delays on certain of its key products; (2) the company was experiencing lower than expected sales of enterprise products; (3) the company was vulnerable to lower pricing in some areas of the business; and (4) as a result of the foregoing, the company would be forced to announced drastically lower first quarter revenue estimates compared to prior forecasts, and withdraw 2015 forecasts for the company’s financial results in their entirety.

As a result of defendants’ alleged false and misleading statements, the company’s stock traded at artificially inflated prices during the class period.

According to the complaint, on March 26, 2015, before the market opened, the company issued a press release announcing that it expects revenue for the fiscal first quarter “to be approximately $1.3 billion, depending on final sell-through results, compared to the previously forecasted revenue range of $1.40 billion to $1.45 billion.”

As the company disclosed, this reduction in guidance was “primarily due to certain product qualification delays, lower than expected sales of enterprise products and lower pricing in some area of the business.”

Moreover, the company announced that it expects continued impact to its 2015 financial results from these factors as well as the previously identified supply challenges, and now forecasts 2015 revenue to be lower than the previously forecast.

On this news, shares in SanDisk dropped over 18%, closing at $66.20 per share on March 26, 2015, on heavy trading volume.

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