OCZ Technology Group, Inc., 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.
Latest News Posts
- UK debuts its 'UK Against ISIL' social media account
- Phiaton launches PS 202 NC active noise cancellation earphones
- Famed astronaut Buzz Aldrin shares his 'master plan' for Mars
- LG partners with REEDS Jewelers for the LG Watch Urbane Luxe
- Report: Prior to breach, no one wanted to purchase Ashley Madison
- H97 boards, graphics cards and CPUs running hotter than on Z97 boards
- New network adapter making graphics card fail.
- x99 Extreme 4/3.1 Red Light + No Display
- Build Advice End of 2015 ASUS X99-A/USB 3.1
- X99 Extreme 6ac eSATA
- CYBERTRONPC ANNOUNCES SMALL FORM FACTOR SYSTEM WITH AMD R9 NANO GRAPHICS CARD
- SilverStone Storage Devices - Mobile Series - MS08
- ASRock Z170 OC Formula Sets More Records at IDF 2015 San Francisco!
- ATTO Technology to Display Network and Storage Connectivity Portfolio at VMworld 2015
- SilverStone Accessories - Expansion Cards - ECM20