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
- HTC slices $200 from Vive price, now costs $599
- Forza Motorsport 7 requires GTX 1080/Vega for 4K 60FPS
- ASUS makes ROG Strix Radeon RX Vega series official
- Project CARS 2 screenshots from Gamescom 2017: DELICIOUS
- Radeon Vega 8, Vega 10 spotted: Raven Ridge APU tech?
- Intel details 8th Generation Core CPUs with Kaby Lake-R
- Xbox's next system-seller may be an early access titan
- Valerian and the City of a Thousand Planets Movie Review
- Looking for Lian Li PC-C37 pdf manual as links from Lian Li website are broken
- Aerocool Project 7 P7-C1 Pro Mid-Tower Chassis Review
- Bluehole, Inc and Microsoft announce expanded partnership for PlayerUnknown's Battlegrounds
- Optimize system performance with new drive adapter
- Lian Li reveals new PC-Q39 tempered glass Mini-ITX tower
- Longsys' world-first 11.5x13mm NVMe BGA SSD drives new mobile user experience
- Thermaltake attends NVIDIA Gamer Connect