CORRECTING and REPLACING -- Brower Piven Announces the Filing of a Class
Action Lawsuit Against OCZ Technology Group, Inc. Expanding the Class Period
to Include July 10, 2012 Through October 11, 2012 and Encourages Investors Who
Have Losses in Excess of $100,000 From Investment in OCZ Technology Group,
Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class
Action Lawsuit Before the December 10, 2012 Lead Plaintiff Deadline
STEVENSON, Md., Oct. 26, 2012 (GLOBE NEWSWIRE) -- In a press release issued by
Brower Piven on October 24, 2012, please note that the class period on the
headline should be July 10, 2012 and not July 7, 2010, as originally stated.
The full and corrected release follows:
Brower Piven, A Professional Corporation announces that a class action lawsuit
has been commenced in the United States District Court for the Northern
District of California on behalf of a class comprising all persons or entities
who purchased or otherwise acquired OCZ Technology Group, Inc. ("OCZ" or the
"Company") (Nasdaq:OCZ) common stock and/or call options, or sold OCZ put
options, between July 10, 2012 and October 11, 2012, inclusive (the "Class
If you have suffered a net loss for all transactions in OCZ Technology Group,
Inc. during the Class Period, you may obtain additional information about this
lawsuit and your ability to become a lead plaintiff by contacting Brower Piven
at www.browerpiven.com, by email at email@example.com, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley
Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined
experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action.Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead
plaintiff.If you wish to choose counsel to represent you and the Class, you
must apply to be appointed lead plaintiff no later than December 10, 2012 and
be selected by the Court.The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a settlement
and how much of a settlement to accept for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the largest loss
from investment in the Company during the Class Period.You are not required
to have sold your shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of the Company's failure to disclose during the Class
Period that the Company was providing extraordinary customer incentives in
excess of what was normal and customary in the past and improperly accounting
for those customer incentive programs.According to the complaint, after, on
October 10, 2012, the Company announced that revenue for the quarter ending
August 31, 2012 would be materially lower than the Company had projected
principally due to the impact of customer incentive programs and that delayed
financial results were expected to show a significant net loss, the value of
OCZ shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice.You
need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
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