Harwood Feffer LLP Announces Investigation of QLogic Corporation

NEW YORK, Sept. 30, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of QLogic Corporation ("QLogic" or the "Company") (NASDAQ: QLGC), concerning whether the board has breached its fiduciary duties to shareholders.

According to a recently filed class action pending in the U.S. District Court for the Central District of California, C.A. No. 8:15-cv-1560, QLogic falsely failed to disclose that it was being adversely impacted 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, including an inventory build-up at a major OEM customer. 

On July 30, 2015, QLogic disclosed that its financial results had been adversely impacted by "operational issues including an inventory build-up primarily at a major OEM customer.  On this news, shares of QLogic fell over 22% in one day.     

Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

If you own QLogic shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email:  bsachsmichaels@hfesq.com
Website:   http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm. 

The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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SOURCE Harwood Feffer LLP