I also found this, dated, but most likely relevant. I hope I don't get in trouble for the link. I in no way, endorse this product.
Garry Plesha 438 solutions Sep 08, 2008
Here is the answer from PNY.
http://www2.pny.com/support/support_sin ... ionID=1057Be warned, this is a low level format tool from them. What ever is on your flash drive will be erased.
I went exploring on these drives and found that when they start acting like they are write protected, it means that the drive corrupted. The low level format tool, will completely reformat that drive, and hopefully correct the problem.
They say it happens (usually) if you removed the drive from a computer, without using the safe eject USB function.
If this is a new flash drive, take it back to where you got it, and ask for a replacement.