NEW YORK, March 26, 2015 /PRNewswire/ -- Harwood Feffer LLP
(www.hfesq.com) is investigating potential claims against the board
of directors of SanDisk Corp. ("SanDisk" or the "Company") (NASDAQ:
SNDK), concerning whether the board has breached its fiduciary
duties to shareholders.
On March 26, 2015, the Company
disclosed that it was cutting its revenue guidance for the first
quarter of 2015 to $1.3 billion, a
reduction of about 10%. The Company blamed a variety of
factors including lower than expected sales of enterprise products
and lower pricing in certain business areas for the reduced
guidance. Just two months earlier, the Company had forecast
$1.4 to $1.45 billion in revenue for
the first quarter.
The Company also withdrew its full year 2015 guidance and
postponed its upcoming Investor Day in May 2015. On this
news, SanDisk stock fell more than 14%.
Between November 2014 and
March 2015 – before the guidance
change – SanDisk insiders sold approximately $20 million in SanDisk shares.
Our investigation concerns whether the Company board of
directors has breached its fiduciary duties to shareholders,
grossly mismanaged the Company, and/or committed abuses of control
in connection with the foregoing.
If you own SanDisk shares and wish to discuss this matter with
us, or have any questions concerning your rights and interests with
regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been
representing individual and institutional investors for many years,
serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website
(http://www.hfesq.com) for more information about the
firm.
The law firm responsible for this advertisement is Harwood
Feffer LLP (www.hfesq.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
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SOURCE Harwood Feffer LLP