NEW YORK, March 26, 2015 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of SanDisk Corp.
("SanDisk" or the "Company") (NASDAQ: SNDK). Such investors
are advised to contact Robert S.
Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext.
237.
The investigation concerns whether SanDisk and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On March 26, 2014, SanDisk
announced 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.
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."
On this news, shares of SanDisk fell $14.83 per share to $66.34, or more than 18.27%, in intra-day trading
on March 26, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San
Diego and Florida, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the
dean of the class action bar, the Pomerantz Firm pioneered the
field of securities class actions. Today, more than 70 years later,
the Pomerantz Firm continues in the tradition he established,
fighting for the rights of the victims of securities fraud,
breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of
class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP