NEW YORK--(BUSINESS WIRE)--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”) (NASDAQGS: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:
or contact Joseph E. Levi, Esq. either via email at email@example.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.