SEC Sues Two on Merix Trading

The Securities and Exchange Commission is suing two people for alleged insider trading in Merix (MERX Quote - Cramer on MERX - Stock Picks) stock, the semiconductor parts company said late Tuesday.

The Forest Grove, Ore., company said the action was brought by the agency in U.S. District Court in Oregon. The suit accuses a pair of unnamed defendants, including one non-officer employee of Merix, of trading Merix common stock while in possession of material nonpublic information, Merix said.

Merix said the suit doesn't allege any wrongdoing by the company and that it continues to cooperate with the probe.

Merix closed Tuesday up 3 cents at $6.53.