… As Well as Rosen Law Firm …

Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit has been filed on behalf of purchasers of QLogic Corporation securities during the period from April 30, 2015 through July 30, 2015, inclusive.

The lawsuit seeks to recover damages for QLogic investors under the federal securities laws.

According to the lawsuit, defendants made false
and/or misleading statements and/or failed to disclose that:

• (1) QLogic was being adversely impacted by lower than expected demand due to weakness in its enterprise server and storage markets;
• (2) QLogic was being negatively impacted by operational issues, including an inventory build-up at a major OEM customer;
• (3) as such, QLogic’s financial results were being negatively impacted; and (4) as a result, QLogic’s statements about its business, operations, and prospects lacked a reasonable basis.

On July 30, 2015, QLogic revealed 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 $2.51 per share or over 22% to close at $8.87 per share on July 31, 2015.