STEC INC
SymbolSTEC

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

Kendall Law Group Investigating STEC, Inc. for Shareholders

2009-11-06 15:32 ET - News Release


Company Website: http://www.kendalllawgroup.com
DALLAS -- (Business Wire)

Kendall Law Group, founded by a former federal judge, today began an investigation on behalf of STEC, Inc. (NASDAQ: STEC) shareholders. The investigation concerns possible securities violations regarding false and misleading public statements made by the company between August 3, 2009 and November 3, 2009.

The firm’s investigation is based on STEC’s November 3, 2009 announcement that one of its largest customers will be carrying 2009 inventory over into 2010, which could affect STEC’s 2010 first quarter results. This customer accounts for 90% of STEC’s Zeus IOPS SSD business and placed a $120 million order for the second half of 2009. On this news, STEC stock dropped nearly 39% to close at $14.14 on unusually heavy volume on November 4, 2009.

The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try, click here for a free 30 day trial subscription.