Investigation of SanDisk by Glancy Binkow & Goldberg …

Glancy Binkow & Goldberg LLP is investigating potential claims on behalf of investors of SanDisk Corporation concerning possible violations of federal securities laws.

The investigation focuses on certain statements issued by the company concerning SanDisk’s business and financial prospects.

SanDisk designs, develops, manufactures, and markets storage solutions in the United States and internationally.

Specifically, the investigation relates to the company’s March 26, 2015 announcement that it expects its revenue for the fiscal first quarter “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.“

As the company disclosed, this reduction in guidance was “primarily due to certain product qualification delays, lower than expected sales of enterprise products and lower pricing in some areas of the business.“

On this news, shares of SanDisk declined $14.98 per share, or 18.45%, to close on March 26, 2015, at $66.20 per share, on unusually heavy volume.