MURRAY, FRANK & SAILER LLP Investigates Claims Against STEC, Inc., Concerning Common Stock Purchased On Secondary Public Offering On Or About August 5, 2009

MURRAY, FRANK & SAILER LLP investigates claims against STEC, Inc. (NASDAQ:STEC) concerning STEC common stock purchased on a secondary public offering on or about August 5, 2009. In this offering, selling shareholders Manouch Moshayedi, STEC’s Chairman and CEO, and Mark Moshayedi, STEC’s President and COO, sold about 9 million shares at a price of $31.00 per share.

MURRAY, FRANK & SAILER LLP is investigating possible violations of the Securities Act of 1933 through the issuance of a materially false and misleading registration statement, prospectus, and other documents. These documents failed to disclose, among other things, that: (1) STEC over-sold its largest customer more inventory than it required; (2) STEC overstated the demand for certain products; (3) STEC’s subsequent revenue and financial results for the following years would be negatively impacted; and (4) as a result of the above, defendants’ statements lacked a reasonable basis.

If you purchased STEC common stock pursuant to the secondary public offering at a price of $31.00 per share on or about August 5, 2009, please contact Eva Hromadkova at (800) 497-8076, (212) 682-1818, or via email at newcase@murrayfrank.com.

Copyright Business Wire 2010

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX