San Diego, CA -- (SBWIRE) -- 11/27/2012 -- A deadline is coming up on December 10, 2012 in the lawsuit filed for investors of OCZ Technology Group Inc. (NASDAQ:OCZ) over alleged securities laws violations by OCZ Technology Group Inc. in connection with certain allegedly false and misleading statements.

Investors with a substantial investment in OCZ Technology Group Inc. (NASDAQ:OCZ) shares between July 10, 2012 and October 10, 2012, should get active before the Deadline that is coming up on December 10, 2012, and NASDAQ:OCZ stockholders should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges on behalf of purchasers of OCZ Technology Group Inc. (NASDAQ:OCZ) securities during the period of July 10, 2012 and October 10, 2012, that OCZ Technology Group Inc. (NASDAQ:OCZ) and certain of its executive officers allegedly made false and/or misleading statements and/or failed to disclose that OCZ Technology Group Inc. was providing extraordinary customer incentives in excess of what was normal and customary in the past, that OCZ Technology Group Inc. was improperly accounting for customer incentive programs, that as a result, OCZ Technology Group’s financial results were misstated between July 10, 2012 and October 10, 2012, that OCZ Technology Group Inc. lacked adequate internal and financial controls, that as a result, defendants’ statements were allegedly materially false and misleading, and that as a result of the foregoing, defendants’ positive statements about that OCZ Technology Group’s business, operations and prospects lacked a reasonable basis.

On September 5, 2012, OCZ Technology Group Inc. announced that for the 2013 fiscal second quarter, which ended on August 31, 2012, it expected preliminary revenue to be approximately $110 to $120 million, compared to the previously guided revenue range of $130 to $140 million.

Then on October 10, 2012, before the market opened, OCZ Technology Group, Inc. (NASDAQ: OCZ), announced that it will file a Notification of Late Filing with the Securities and Exchange Commission that allows the Company to extend the deadline to file its Form 10-Q for the second quarter of fiscal year 2013 (Q2'13), which ended on August 31, 2012. OCZ Technology Group, Inc said its financial statements are still under review.

Shares of OCZ Technology Group Inc. (NASDAQ:OCZ) dropped from $3.16 per share on October 9, 2012, to $1.81 per share on October 10, 2012 and continued to declined to as low as $1.12 per share on November 23, 2012.

On Nov. 26, 2012, NASDAQ:OCZ shares closed at $1.14 per share, which is significantly below its 52 week High of $10.05 per share.

Those who purchased shares of OCZ Technology Group Inc. (NASDAQ:OCZ) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com