San Diego, CA -- (SBWIRE) -- 04/06/2015 -- An investor, who purchased shares of SanDisk Corporation (NASDAQ:SNDK), filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by SanDisk in connection with certain allegedly false and misleading statements made between October 16, 2014 and March 25, 2015.

Investors who purchased shares of SanDisk Corporation (NASDAQ:SNDK) have certain options and for certain investors are short and strict deadlines running. Deadline: May 29, 2015. NASDAQ:SNDK investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of SanDisk Corporation (NASDAQ:SNDK) common shares between October 16, 2014 and March 25, 2015, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that SanDisk Corporation was experiencing certain production qualification delays on certain of its key products, that SanDisk Corporation was experiencing lower than expected sales of enterprise products, that SanDisk Corporation was vulnerable to lower pricing in some areas of the business, and that as a result of the foregoing, SanDisk Corporation would be forced to announce drastically lower first quarter revenue estimates compared to prior forecasts, and withdraw 2015 forecasts for the Company's financial results in their entirety.

SanDisk Corporation reported that its annual Total Revenue increased from over $5.05 billion in 2012 to over $6.62 billion in 2014 and that its respective Net Income increased from $417.40 million to over $1 billion. Shares of SanDisk Corporation (NASDAQ:SNDK) grew from $31.23 per share in June 2012 to as high as $107.83 per share in July 2014, respectively $106.00 per share in late 2014.

On March 26, 2015, SanDisk Corporation provided a business update. SanDisk Corporation said that it expects its revenue for the first fiscal quarter, which will end on March 29, 2015, to be approximately $1.3 billion, depending on final sell-through results, compared to the previously forecasted revenue range of $1.40 billion to $1.45 billion. SanDisk Corporation (NASDAQ:SNDK said that the change in first quarter revenue estimate is primarily due to certain product qualification delays, lower than expected sales of enterprise products and lower pricing in some areas of the business. The Company expects continued impact to its 2015 financial results from these factors as well as the previously identified supply challenges, and now forecasts 2015 revenue to be lower than the previous guidance. Shares of SanDisk Corporation (NASDAQ:SNDK) declined to as low as $63.00 per share on April 1, 2015.

Those who purchased shares of SanDisk Corporation (NASDAQ:SNDK) have certain options and should contact the Shareholders Foundation.

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