Block & Leviton Launches Investigation of OCZ Technology Group Inc For Possible Violations Of Federal Securities Laws

Block & Leviton LLP announced that it is investigating possible securities law violations involving OCZ Technology Group Inc. The investigation is related to allegations that certain statements issued by the Company between July 10, 2012 and October 10, 2012 concerning OCZ's financial performance were knowingly false and misleading when made. On October 10, 2012, the Company issued a press release announcing that it was delaying the filing of its financial results for the second quarter of fiscal year 2013, which ended August 31, 2012. The press release also disclosed that the Company's second quarter revenue will be "materially lower" than its previous guidance released on September 5, 2012, which was in the range of $110 to $120 million, principally due to the impact of customer incentive programs," and that the Company expects to report a significant net loss.