Lieff Cabraser Reminds OCZ Technology Group, Inc. Investors of Upcoming Deadline in Class Action Lawsuits

  Lieff Cabraser Reminds OCZ Technology Group, Inc. Investors of Upcoming
  Deadline in Class Action Lawsuits

Business Wire

SAN FRANCISCO -- November 16, 2012

Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the December 10,
2012 deadline to move for appointment as lead plaintiff in the securities
class litigation against OCZ Technology Group, Inc. (“OCZ” or the “Company”)
(NASDAQ: OCZ), brought on behalf of all persons or entities who purchased the
securities of OCZ between July 10, 2012 and October 11, 2012, inclusive (the
“Class Period”).

If you purchased or otherwise acquired OCZ securities during the Class Period,
you may move the Court for appointment as lead plaintiff by no later than
December 10, 2012. A lead plaintiff is a representative party who acts on
behalf of other class members in directing the litigation. Your share of any
recovery in the action will not be affected by your decision of whether to
seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other
attorneys, as your counsel in the action.

OCZ shareholders who wish to learn more about the action and how to seek
appointment as lead plaintiff should click here or contact Sharon Lee of Lieff
Cabraser toll-free at 1 (800) 541-7358.

The complaints charge OCZ and certain of its senior executives with violations
of the Securities Exchange Act of 1934.

On September 5, 2012, OCZ significantly lowered its revenue forecast for the
second quarter of fiscal year 2013 to between $110 million and $120 million,
from earlier estimates of between $130 million and $140 million, due to supply
constraints. Following this announcement, OCZ’s stock price fell over 20% to
close at $4.35 on September 6, 2012.

On October 10, 2012, OCZ announced that it was unable to timely file its Form
10-Q for the fiscal second quarter, that its revenue for the quarter would be
materially lower than earlier estimates, and that it expected to report
negative gross margins and a significant net loss for the quarter. Defendants
attributed the revised revenue estimate and filing delay to the impact of
customer incentive programs. On this news, OCZ’s stock price fell another 40%,
to close at $1.88.

Then, on October 11, 2012, defendants disclosed that OCZ required “additional
time for compilation and review to insure adequate disclosure of certain
information” in its second quarter Form 10-Q. On this news, OCZ’s stock price
fell approximately 3%, to close at $1.47 on October 12, 2012.

About Lieff Cabraser

Lieff Cabraser is a nationally recognized law firm committed to advancing the
rights of investors and promoting corporate responsibility.

Since 2003, the National Law Journal has selected Lieff Cabraser as one of the
top plaintiffs’ law firms in the nation. Lieff Cabraser is one of only two
plaintiffs’ law firms in the United States to receive this honor for the last
ten consecutive years.

For more information about Lieff Cabraser and the firm’s representation of
investors, please visit http://www.lieffcabraser.com.

Contact:

Lieff Cabraser Heimann & Bernstein, LLP
Sharon Lee, 415-956-1000
 
Press spacebar to pause and continue. Press esc to stop.