NEW YORK, July 13, 2015 /PRNewswire/ -- Levi & Korsinsky, LLP is investigating QLogic Corporation (NASDAQGS: QLGC) in connection with possible violations of federal securities laws.
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The investigation concerns whether certain statements made by QLogic regarding their business and prospects were false and misleading. 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. QLogic now expects to report net revenue of approximately $113 million for the first quarter; previously forecasted revenue was in the range of $124 million to $132 million. On this unfavorable news, shares of QLogic fell over $2.80 per share or over 20% in pre-market trading on July 9, 2015.
If you own common stock in QLogic Corporation and wish to obtain additional information, please contact Eduard Korsinsky, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/qlogic-corporation-qlgc.
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. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP