OCZ Progresses in Legal Issues
Resolves remaining shareholder derivative legal matters.
This is a Press Release edited by StorageNewsletter.com on November 8, 2013 at 3:17 pmOCZ Technology Group, Inc. announced further progress in resolving outstanding legal issues.
Three shareholder derivative actions filed in California state court recently were dismissed with prejudice pursuant to stipulation and order. The dismissals of these actions occurred after final approval of the settlement in the federal shareholder derivative action.
On October 17, 2013, the United States District Court for the Northern District of California granted final approval of the previously announced settlement of the consolidated federal shareholder derivative litigation captioned In re OCZ Technology Group, Inc. Shareholder Derivative Litigation, Lead Case No. 12-cv-05556-RS, and entered an order dismissing the federal derivative action with prejudice.
There are no more shareholder derivative actions pending.
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