NEW YORK, April 6, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in SanDisk Corporation ("SanDisk" or the "Company") (NasdaqGS: SNDK) of the May 29, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against SanDisk and certain executives.
A complaint has been filed in the Northern District of California on behalf of all persons who purchased SanDisk common stock from October 16, 2014 through March 25, 2015 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Company concealed that it was experiencing certain production qualification delays on some of its key products. Also, the Company allegedly concealed that it was experiencing lower than expected sales of enterprise products and was vulnerable to lower pricing in some areas of the business.
On March 26, 2015, the Company disclosed that due to the aforementioned issues it had to reduce its expected revenue for the fiscal first quarter from $1.45 billion down to $1.3 billion.
Following this news, the price of the Company's stock dropped over 18% closing at $66.20 per share on March 26, 2015.
Request more information now by clicking here: www.faruqilaw.com/SNDK. There is no cost or obligation to you.
Take Action
If you invested in SanDisk stock or options during the Class Period and would like to discuss your legal rights, visit www.faruqilaw.com/SNDK. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding SanDisk's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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