Twentieth Investigation of OCZ

Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the Northern District of California against OCZ Technology Group, Inc. on behalf of investors who purchased or otherwise acquired the common stock of the company during the period from July 11, 2012 through October 9, 2012.

The complaint brings forth claims for violations of the Securities Exchange Act of 1934.

OCZ designs, manufactures and distributes enterprise and consumer SSDs. SSDs provide high-speed memory for computers. In addition to SSD technology, OCZ also offers other components for computing devices and systems including enterprise class power management products and industrial power accessories. The company was founded in 2002 and is headquartered in San Jose, CA.

The complaint alleges that, throughout the Class Period, the company and certain of its executive officers made materially false and misleading statements regarding the company’s business, operational and accounting practices, including the company’s accounting for customer incentive programs.

Specifically, Defendants made false and/or misleading statements
and/or failed to disclose:

• that the company’s accounting for customer incentive programs was improper and misleading;
• that the company lacked adequate internal and financial controls; and
• that, as a result of the above, the company’s financial statements were materially false and misleading at all relevant times and positive statements about OCZ’s business prospects lacked a reasonable basis.