OCZ Technology Receives Inquiry From SEC
SAN JOSE, CA -- (Marketwire) -- 11/21/12 -- OCZ Technology Group,
Inc. (NASDAQ: OCZ), a leading provider of high-performance
solid-state drives (SSDs) for computing devices and systems, today
announced that on November 15, 2012, OCZ Technology (the "Company")
received a letter from the Securities and Exchange Commission ("SEC")
indicating that they are conducting an investigation. As part of this
notification, the Company also received a subpoena requesting certain
documents and information generally related to its press releases on
September 5, 2012 and October 10, 2012, and the financial reporting
for customer incentive programs, among other matters.
Ralph Schmitt, president and chief executive officer, noted that,
"Since we delayed the filing of our second quarter 10-Q, we had
proactively contacted the Commission and have been expecting them to
conduct an investigation. We intend to cooperate fully regarding this
non-public, fact-finding inquiry and are also continuing with our own
internal investigation as previously announced."
The SEC has informed the Company that this inquiry should not be
construed as an indication that any violations of law have occurred
or that the SEC has any negative opinion of any person, entity or
security. The Company is unable to predict what action, if any, might
be taken in the future by the SEC as a result of the matters that are
the subject of the subpoena. The Company does not intend to comment
further on this matter unless and until this matter is closed or
further action is taken by the SEC which, in the Company's judgment,
merits further comment or public disclosure.
About OCZ Technology Group, Inc.
Founded in 2002, San Jose, CA-based
OCZ Technology Group, Inc. (OCZ) is a global leader in the design,
manufacturing, and distribution of high-performance solid-state
storage solutions and premium computer components. Offering high
performance solid-state drives (SSDs), OCZ provides SSDs in a variety
of form factors and interfaces (i.e. PCIe, SAS and SATA) to address
both client and enterprise applications. Having developed firmware
and controller platforms, to virtualization and endurance extending
technologies, the company delivers vertically integrated solutions
enabling transformational approaches to how digital data is captured,
stored, accessed, analyzed and leveraged by customers. For more
information, please visit: www.ocztechnology.com.
Senior Manager of Investor Relations
Director of Marketing Communications - Enterprise
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