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https://www.sec.gov/news/press-release/2012-2012-141htm
Jul 19, 2012 · According to the SEC’s complaint filed in U.S. District Court for the Central District of California, STEC’s stock price increased more than 800 percent from January to August 2009 as the company reported higher revenues, sales, and margins for its products, particularly its flagship flash memory product called “ZeusIOPS,” a solid state ...
https://www.sec.gov/litigation/complaints/2012/comp22419.pdf
decided to sell a significant portion oftheir STEC holdings in a secondary offering oftheir shares. The secondary offering was scheduled to commence on August 3, 2009, the same day that STEC was to release its financial results for the second quarter of2009. It was also the same day that STEC would announce its revenue
https://www.reuters.com/article/us-stecinc-investigation-idUSBRE86J03F20120720
Jul 20, 2012 · The SEC will not bring an enforcement action against the company or any of its other executive officers, STEC said in a statement. The SEC complaint seeks …
https://www.storagenewsletter.com/2012/07/20/sec-charges-stec-manouch-moshayedi/
According to the SEC’s complaint filed in U.S. District Court for the Central District of California, STEC’s stock price increased more than 800% from January to August 2009 as the company reported higher revenues, sales, and margins for its products, particularly its flagship flash memory product called ZeusIOPS, an SSD.
https://www.forbes.com/sites/ericsavitz/2012/07/19/stec-sec-charges-ceo-moshayedi-with-insider-trading/
Jul 19, 2012 · The SEC has charged STEC CEO Manouchehr Moshayedi with reaping massive gains from insider trading in connection with a secondary offering of the company's stock in 2009. The government contends he ...Author: Eric Savitz
https://www.ocregister.com/2012/07/19/sec-sues-seeks-death-penalty-for-oc-executive/
SEC sues, seeks “death penalty” for OC executive ... The Securities and Exchange Commission has sued the top officer of Santa Ana-based STEC for insider trading, and in a rare move, the SEC ...
https://www.readyratios.com/news/personnel/1305.html
Jan 18, 2012 · The SEC’s complaint filed on January 13, 2012 in the U.S. District Court for the Central District of California, alleges that Farzin Bazshushtari, who lives in Mission Viejo and is STEC’s Director of Industrial Distribution, purchased 7,000 STEC shares on April 27, 2009, after learning about STEC’s positive first quarter financial results.
https://www.forbes.com/sites/ericsavitz/2012/09/18/stec-ceo-moshayedi-hands-post-to-brother-after-sec-suit/
Sep 18, 2012 · STEC CEO Moshayedi Hands Post To Brother After SEC Suit ... The SEC’s complaint charges Moshayedi with violating the anti-fraud provisions of U.S. …Author: Eric Savitz
https://www.lw.com/mediaCoverage/sec-loses-second-insider-trading-trial-in-seven-days
38 percent on the news that top customer EMC Corp. "might" be holding STEC inventory, particularly its flagship solid state drive product ZeusIOPS, according to the SEC's complaint. STEC's stock bottomed out in early 2010 as EMC revealed it would not be taking any new orders from the company.
https://www.courthousenews.com/sec-sues-tech-company-founder-for-fraud/
Jul 20, 2012 · According to the complaint, after a secondary offering in August 2009, Moshayedi and his brother, STEC co-founder Mehrdad Mark Moshayedi, each sold 4.5 million shares for roughly $134 million dollars. Mehrdad Mark Moshayedi is not a party to the complaint, filed at the U.S. District Court Central District of California.
http://www.ocbj.com/news/2012/jul/20/stec-chief-executive-charged-insider-trading/
Oct 23, 2019 · The Securities and Exchange Commission has charged STEC Inc. Chairman and Chief Executive Manouchehr Moshayedi with insider trading, which carries a potential lifetime ban from serving as an officer or director of any publicly traded company.
http://securities.stanford.edu/filings-documents/1043/STEC00_01/201049_r01c_09CV01304.pdf
22 investigation by the SEC. STEC has revealed that certain of STEC's officers and 23 employees, including Defendants Manouch and Mark Moshayedi, have received 24 subpoenas in connection with the SEC's investigation. 25 3. STEC purports to be a leading global provider of memory and storage
https://www.law360.com/articles/362125/sec-sues-stec-head-for-insider-trading-in-stock-offering
SEC Sues STEC Head For Insider Trading In Stock Offering ... According to the complaint, STEC’s stock price increased more than 800 percent from January to August 2009 as the company reported ...Author: Howard Goodman
http://securities.stanford.edu/filings-documents/1043/STEC00_01/2009116_o02c_09CV01304.pdf
4 accordance with GAAP and SEC rules. 5 • As a result of the aforementioned adverse conditions which Defendants 6 failed to disclose, throughout the Class Period, Defendants lacked any 7 8 reasonable basis to claim STEC was operating according to plan, or claim 9 STEC could achieve guidance sponsored and/or endorsed by Defendants. 10 5.
https://www.law360.com/articles/463276/ex-stec-chief-s-own-words-reveal-insider-trading-sec-says
Aug 07, 2013 · Ex-STEC Chief's Own Words Reveal Insider Trading, SEC Says. By Lance Duroni. ... according to the SEC's complaint. STEC's stock bottomed out in early 2010 as EMC revealed it …Author: Lance Duroni
https://www.forkeylaw.com/blog/2012/07/tampa_florida_stock_fraud_and_misrepresentation_litigation_and_finra_arbitration_attorney/
The SEC alleges that Manouchehr Moshayedi sought to take advantage of a dramatically upward trend in the stock price of STEC Inc. by deciding to sell a significant portion of his stock holdings as well as shares owned by his brother, a company co-founder.
https://www.lw.com/news/latham-litigators-in-insider-trading-cases-2014
Jun 11, 2014 · Latham Litigators Win Insider Trading Cases v. the SEC ... the former Chief Executive and Chairman of sTec Inc. The SEC’s complaint, one of the largest insider trading cases ever filed by the SEC, had alleged that Moshayedi engaged in insider trading and violated the anti-fraud provisions of the federal securities laws in connection with a ...
https://www.law.du.edu/documents/corporate-governance/disclosure/Charles-McDonald-v-John-P-Abizaid-et-Al-No-117CV907-E-D-Ohio-February-2-2018.pdf
Allegations" section in Plaintiff's Complaint cites to the SEC Complaint seventy-five times in that section alone. ... 2012). In STEC, a derivative action was brought against STEC, its officers, and directors, alleging that the officers and directors made false and misleading statements, which caused STEC's stock price to dwindle when the truth ...
https://www.storagenewsletter.com/2012/09/19/stec-manouch-moshayedi/
In a SEC filing, STEC Inc. announced on September 17, 2012 that Manouch Moshayedi, its chairman CEO, notified the board that he is stepping down from his positions pending resolution of a civil complaint filed against him by the the SEC on July 19, 2012 . He will remain with the company, assuming the title of founder […]
https://blogs.orrick.com/securities-litigation/tag/sec/page/5/
Aug 12, 2014 · In STEC, the SEC alleged that founder Manouchehr Moshayedi made a secret deal with a customer to conceal a drop in demand in advance of a secondary offering. According to the complaint, Moshayedi knew that one of STEC’s key customers, EMC Inc., would demand fewer of STEC’s most profitable products than analysts expected.
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