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OCZ Technology Group Inc Message Board

  • sinewave321 sinewave321 Sep 16, 2013 11:25 PM Flag

    No one in the executive team has sold their stock since last year.

    I'm just curious. I was looking at insider trades and noticed the last sale was on 4/10/12. Is this because of limitations set by SEC or something else? You would think if they were near bankruptcy that the executives would have filed Form 4s by now.

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    • I thought about it more after last night's exchange and don't believe the Oct 3rd court date and the lawsuits will have much impact in the short term to OCZ. Ultimately, the goal is for OCZ to be bought out. The Oct 3rd date is just a meeting to discuss whether or not this is going to trial. The class action lawsuit will drag on for months and possibly years and by then OCZ will be under someone else's name.

      Also, it's not really in the litigants best interest to cause a great deal of controversy right now. What would they gain by it at this point? You run the risk of scaring away potential suitors which increases the risk of no buy out and potential BK. They won't get much money from a bankrupt company. It's a better scenario to "kick the can" down the road and sue whoever buys out OCZ.

      I think it's actually smart that OCZ extended the date to Oct 7th. It prevents the lawyers from potentially using any financial data released at the court date on Oct 3rd.

    • The fact is there never has been a threat of bk and this is a fairytale created by one idiot talking to and from his various aliases. Insiders are waiting for financials to finally be submitted so they too can participate in these same great prices afforded us now before the surge back to recovery.

      Sentiment: Strong Buy

      • 1 Reply to dltggmgmt
      • Lets be honest here..... If they don't file they will be in violation of their financing covenants and will be delisted. Going by past actions when they violated covenants I would say it is going to cost them about $1 million over the next 9 months for violating them and there is the possibility they have their funding pulled altogether. If that happens then BK happens. If they still get funding then by next June they art BK because no way they will come up with the 7 million.

        I would think if they get delisted it is only a matter of time until we get the dreaded BK PR. Of course there is always the chance they can pull profitability out their #$%$ but judging by the character of RS I am starting to doubt that outcome.

        RS needs to come clean with the shareholders ASAP.... as in NOW!! What could be his reasoning to withhold news? Either let us know if you plan to file or not by the deadline. You know he knows RIGHT THIS SECOND if he intends to do so or not. He needs to let us KNOW! Less than 3 weeks away from screwing us over again.

    • SEC investigation 9 months now. No news is good news. Nothing to report but some fiancial mistakes.

      • 2 Replies to tvtman
      • I agree with everything that you have said. I will say this to that .... management will do as they have done in the past. Do nothing to inform shareholders! They will ride this out until the end ... even after delisting, financial disaster, etc. They have nothing to gain (except their integrity) by informing the public. They continue and will continue to make the salaries, etc. as long as they can keep this game going. I can't understand anybody owning this stock with the thought that this will end with a profit to shareholders.

      • austinwcraig@gmail.com austinwcraig Sep 17, 2013 10:47 AM Flag

        Typically those financial misktakes are called Fraud. You really should go read what Ryan and RS said and what occured. They are screwed.

    • austinwcraig@gmail.com austinwcraig Sep 17, 2013 12:08 AM Flag

      SEC investigation going on.

      • 3 Replies to austinwcraig
      • It doesn't take the SEC 9+ months to find fraud...

      • Thanks, I did a look up and found this article "OCZ Halted, Drops 9%: SEC Investigating, Documents Subpoenaed" which described the details of the SEC investigation.

        From the article:
        The reference to the October 10th press release would appear to refer to OCZ’s announcement on that date it would delay filing of its 10-Q form for the fiscal Q2 ended in August and that it was revising its revenue estimate for that quarter. The reference to September 5th would appear to correspond to OCZ’s press release on that day announcing those preliminary Q2 results.

        The SEC has told the company the inquiry “should not be construed as an indication that any violations of law have occurred.”

        So, it doesn't sound like the lack of insider sales is necessary directly related to the SEC investigation. I haven't looked into the lawsuit yet so that maybe a more valid reason.

      • yeah when you accused of fraud and selling into such fraud, it prob not the best thing to do more of it.

        btw that case goes in front of a judge on the 3'rd of oct.

 
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