Stock of troubled SSD maker suspended from trading pending word of possible bankruptcy or takeover.
The saga of OCZ may be coming to a close today, as trading of the troubled company’s stock has been halted on the NASDAQ exchange pending an announcement.
While OCZ’s products may have a solid reputation, the corporation has a much more colourful one. Its (now former) CEO Ryan Petersen made a midnight run to Panama in 2012, and the company was late filing required SEC documents only filing them under threat of delisting.
Well placed rumors had it that OCZ was set to be acquired by Seagate, which has struggled in the SSD space, but the deal fell through because Petersen wasn’t granted a seat on Seagate’s board.
It’s unknown what the next course of action will be. The trading halt could be because of the launch of an investigation into the company by regulators, or it could because it is being bought out.
Official word is expected by the end of the trading day in New York.