Once-great SSD manufacturer OCZ filing for bankruptcy



Assets might be acquired by Toshiba after OCZ fails to comply with its loan.

Consumer SSD pioneer OCZ Technologies has officially started the process of filing for bankruptcy. In a statement published this afternoon on Marketwatch, the company announced that this past Monday, November 25, its depository accounts were turned over to the control of Hercules Technology Growth Capital due to OCZ's failure to comply with the conditions of a loan from Hercules. Per the loan agreement's terms, OCZ has begun the bankruptcy process—with the goal of dissolution, not restructuring...

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I think it was three strikes for this group. They've had trouble getting NAND chips, were investigated for accounting irregularities, and scared shareholders a few years ago when it was revealed the CEO had a previously undisclosed criminal conviction.