… And Harwood Feffer

Harwood Feffer LLP is investigating potential claims against the board of directors of SanDisk Corp., concerning whether the board has reached its fiduciary duties to shareholders.

On March 26, 2015, the company disclosed that it was cutting its revenue guidance for the first quarter of 2015 to $1.3 billion, a reduction of about 10%. The company blamed a variety of factors including lower than expected sales of enterprise products and lower pricing in certain business areas for the reduced guidance. Just two months earlier, the company had forecast $1.4 to $1.45 billion in revenue for the first quarter.

The company also withdrew its full year 2015 guidance and postponed its upcoming Investor Day in May 2015.

On this news, SanDisk stock fell more than 14%.

Between November 2014 and March 2015 – before the guidance change – SanDisk insiders sold approximately $20 million in SanDisk shares.

The investigation concerns whether the company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the company, and/or committed abuses of control in connection with the foregoing.