Levi & Korsinsky Investigating QLogic
For violations of securities laws
This is a Press Release edited by StorageNewsletter.com on August 20, 2015 at 2:38 pmLevi & Korsinsky, LLP is investigating QLogic Corporation in connection with possible violations of federal securities laws.
The investigation concerns whether certain statements made by QLogic regarding their business and prospects were false and misleading.
On July 9, 2015, QLogic lowered its revenue estimate for the first quarter ended June 28, 2015 citing a general weakness in the company’s traditional enterprise server and storage markets and inventory buld-up at certain of its OEM customers.
QLogic now expects to report net revenue of approximately $113 million for the first quarter; previously forecasted revenue was in the range of $124 million to $132 million.
On this unfavorable news, shares of QLogic fell over $2.80 per share or over 20% in pre-market trading on July 9, 2015.
Read also:
Shareholder Rights Law Firm Johnson & Weaver Investigating QLogic
For potential violations of federal securities laws
2015.08.04 | Press Release
Investigation of QLogic by Howard G. Smith
Concerns whether company misled investors regarding financial prospects and future earnings.
2015.07.23 | Press Release
Subscribe to our free daily newsletter
