Levi & Korsinsky announces that a class action has commenced in the United States District Court for the Northern District of California on behalf of SanDisk Corporation shareholders who purchased their shares between October 16, 2014 and March 25, 2015.
The complaint alleges, among other allegations, that Defendants made materially false and misleading statements regarding quality control within the corporate organizational structure. On March 26, 2015, the Company issued a press release announcing that it expects its revenue for the fiscal first quarter to be approximately $1.3 billion, rather than the previously forecasted revenue of $1.40 billion to $1.45 billion. Upon this news, shares of SanDisk declined $14.98 per share to close at $66.20 per share. If you suffered a loss in SanDisk you have until May 29, 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.
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