Nov 21 OCZ Technology Group Inc said it
is being investigated by the Securities and Exchange Commission,
and it received a subpoena requesting certain documents and
information related to its Sep. 5 and Oct. 10 announcements.
The solid-state hard drive maker said on Sep. 5 that it
expects revenue for the second quarter to fall below its
forecast as a shortage of certain components hurt production.
OCZ on Oct. 10 said it was deferring reporting
second-quarter results, and that quarterly revenue would be
"materially lower" than its Sep. 5 forecast.
"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," Chief Executive Ralph Schmitt
said in a statement on Wednesday.
Shares of the company, which have lost 62 percent of their
value since Oct. 10, closed unchanged at $1.19 on the Nasdaq on