I have the same issue:
I just updated the bios to the most recent one:
sudo dmidecode -s bios-version && sudo dmidecode -s bios-release-date
A16
08/19/2014

But it did not fix the problem, SD cards are not detected and there is
no error message.

0c:00.0 SD Host controller [0805]: O2 Micro, Inc. OZ600FJ0/OZ900FJ0/OZ600FJS 
SD/MMC Card Reader Controller [1217:8221] (rev 05) (prog-if 01)
        Subsystem: Dell Device [1028:0534]
        Control: I/O- Mem+ BusMaster+ SpecCycle- MemWINV- VGASnoop- ParErr- 
Stepping- SERR- FastB2B- DisINTx-
        Status: Cap+ 66MHz- UDF- FastB2B- ParErr- DEVSEL=fast >TAbort- <TAbort- 
<MAbort- >SERR- <PERR- INTx-
        Latency: 0, Cache Line Size: 64 bytes
        Interrupt: pin A routed to IRQ 17
        Region 0: Memory at f7500000 (32-bit, non-prefetchable) [size=512]
        Capabilities: [a0] Power Management version 3
                Flags: PMEClk- DSI- D1+ D2+ AuxCurrent=0mA 
PME(D0+,D1+,D2+,D3hot+,D3cold+)
                Status: D0 NoSoftRst- PME-Enable- DSel=0 DScale=0 PME-
        Capabilities: [80] Express (v1) Endpoint, MSI 00
                DevCap: MaxPayload 128 bytes, PhantFunc 0, Latency L0s <4us, L1 
<64us
                        ExtTag- AttnBtn- AttnInd- PwrInd- RBE+ FLReset-
                DevCtl: Report errors: Correctable- Non-Fatal- Fatal- 
Unsupported-
                        RlxdOrd- ExtTag- PhantFunc- AuxPwr- NoSnoop+
                        MaxPayload 128 bytes, MaxReadReq 128 bytes
                DevSta: CorrErr+ UncorrErr- FatalErr- UnsuppReq+ AuxPwr- 
TransPend-
                LnkCap: Port #0, Speed 2.5GT/s, Width x1, ASPM L0s L1, Exit 
Latency L0s <512ns, L1 <64us
                        ClockPM+ Surprise- LLActRep- BwNot-
                LnkCtl: ASPM L0s L1 Enabled; RCB 64 bytes Disabled- CommClk-
                        ExtSynch- ClockPM+ AutWidDis- BWInt- AutBWInt-
                LnkSta: Speed 2.5GT/s, Width x1, TrErr- Train- SlotClk- 
DLActive- BWMgmt- ABWMgmt-
        Capabilities: [100 v1] Virtual Channel
                Caps:   LPEVC=0 RefClk=100ns PATEntryBits=1
                Arb:    Fixed- WRR32- WRR64- WRR128-
                Ctrl:   ArbSelect=Fixed
                Status: InProgress-
                VC0:    Caps:   PATOffset=00 MaxTimeSlots=1 RejSnoopTrans-
                        Arb:    Fixed- WRR32- WRR64- WRR128- TWRR128- WRR256-
                        Ctrl:   Enable+ ID=0 ArbSelect=Fixed TC/VC=01
                        Status: NegoPending- InProgress-
        Capabilities: [200 v1] Advanced Error Reporting
                UESta:  DLP- SDES- TLP- FCP- CmpltTO- CmpltAbrt- UnxCmplt- 
RxOF- MalfTLP- ECRC- UnsupReq- ACSViol-
                UEMsk:  DLP- SDES- TLP- FCP- CmpltTO- CmpltAbrt- UnxCmplt- 
RxOF- MalfTLP- ECRC- UnsupReq- ACSViol-
                UESvrt: DLP+ SDES+ TLP- FCP+ CmpltTO- CmpltAbrt- UnxCmplt- 
RxOF+ MalfTLP+ ECRC- UnsupReq- ACSViol-
                CESta:  RxErr- BadTLP- BadDLLP- Rollover- Timeout- NonFatalErr+
                CEMsk:  RxErr- BadTLP- BadDLLP- Rollover- Timeout- NonFatalErr+
                AERCap: First Error Pointer: 00, GenCap- CGenEn- ChkCap- ChkEn-
        Kernel driver in use: sdhci-pci

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https://bugs.launchpad.net/bugs/1211197

Title:
  1217:8221 [Dell Latitude E6420] O2 Micro Cardreader does not work on
  Ubuntu 12.04

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