… Sixth Investigation of OCZ …

Gardy & Notis, LLP has filed a class action lawsuit in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased or otherwise acquired common stock issued by OCZ Technology Group, Inc. between July 10, 2012 and October 10, 2012 inclusive.

OCZ made false and misleading statements about its fiscal second quarter financial results. Specifically, OCZ told investors that its net revenue would be in the range of $130 to $140 million.

On October 10, 2012, OCZ announced that the previously announced preliminary fiscal second quarter results were not accurate and that it would not be timely filing its Form 10Q with the SEC.

OCZ said that the revenue would be materially lower than previously announced because of the impact of customer incentive programs that were in excess of what is normal and customary.

As a result of this news the price of OCZ shares plummeted that day more than 45%, and over 69% from the start of the class period, to as low as $1.80 per share – a two-year low – on heavy trading volume.

The class action seeks to recover damages on behalf of plaintiff and a class of all other investors who purchased or acquired shares of OCZ common stock between July 10, 2012 and October 10, 2012 inclusive.

The defendants in the case are OCZ, OCZ’s former CEO and OCZ’s CFO. The legal claims are based on violations of the Securities Act of 1934.