OCZ Not in Compliance With Filing Requirements for Continued Listing

OCZ Technology Group, Inc. announced that because of the delayed filing with the SEC of the Form 10-Q for the period ending August 31, 2012, the company received a letter from The Nasdaq OMX Group indicating that the company is not in compliance with the filing requirements for continued listing under Nasdaq Listing Rule 5250(c).

The Nasdaq letter notes that the company is required to submit a plan to regain compliance with Nasdaq’s filing requirements for continued listing within 60 calendar days of the date of the Nasdaq notification letter. Upon acceptance of the company’s compliance plan, Nasdaq is permitted to grant an extension of up to 180 days from the Form 10-Q’s filing due date, or until April 8, 2013, for the company to regain compliance with Nasdaq’s filing requirements for continued listing.

As previously stated, the company continues to work diligently to complete the financial review. While it is hopeful that the review will be completed in the near future, it cannot currently estimate the exact date.