SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of QLogic Corporation of Pendency of Class Action Lawsuit and a...
October 30 2015 - 2:50PM
The following statement is being issued by Levi & Korsinsky,
LLP:
To: All persons or entities who
purchased or otherwise acquired securities of QLogic
Corporation (“QLogic” or “the Company”) (NASDAQ:QLGC)
between April 30, 2015 and July 30,
2015.
You are hereby notified that a
securities class action lawsuit has been commenced in the United
States District Court for the Central District of California. If
you purchased or otherwise acquired securities of QLogic between
April 30, 2015 and July 30, 2015, your rights may be affected by
this action. To get more information go to:
http://zlk.9nl.com/qlogic-corporation-qlgc
or contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972. There is no cost or obligation to
you.
The Complaint alleges that QLogic made
materially false and/or misleading statements and/or failed to
disclose that the Company was being adversely affected by lower
than expected demand due to weakness in its enterprise server and
storage markets, and that it was being negatively impacted by
operational issues.
On July 9, 2015, QLogic lowered its revenue
estimate for the first quarter ended June 28, 2015 citing a general
weakness in the Company’s traditional enterprise server and storage
markets and inventory build-up at certain of its OEM customers.
Then on July 30, 2015, QLogic announced its final first quarter
results were consistent with its preliminary results due to the
undisclosed operational issues.
If you suffered a loss in QLogic you
have until November 27, 2015 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with
offices in New York, New Jersey, Connecticut and Washington D.C.
The firm’s attorneys have extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
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