Pomerantz Law Firm Investigates Claims On Behalf of Investors of SanDisk …

Pomerantz LLP is investigating claims on behalf of investors of SanDisk Corp.

The investigation concerns whether SanDisk and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On March 26, 2014, SanDisk announced that “it expects its revenue for the first fiscal quarter, which will end on March 29, 2015, to be approximately $1.3 billion, depending on final sell-through results, compared to the previously forecasted revenue range of $1.40 billion to $1.45 billion. The change in first quarter revenue estimate is primarily due to certain product qualification delays, lower than expected sales of enterprise products and lower pricing in some areas of the business. The company expects continued impact to its 2015 financial results from these factors as well as the previously identified supply challenges, and now forecasts 2015 revenue to be lower than the previous guidance.”

On this news, shares of SanDisk fell $14.83 per share to $66.34, or more than 18.27%, in intra-day trading on March 26, 2015.