Saturday, Law Offices of Howard G. Smith, representing investors of STEC, Inc. (STEC) announced a class action lawsuit in United States District Court on behalf of a class consisting of all persons or entities who purchased the securities of STEC between June 16, 2009 and November 3, 2009, inclusive. The class action lawsuit was filed in the United States District Court for the Central District of California.
The complaint charges STEC and certain of the company's executive officers with violations of federal securities laws. STEC designs, manufactures and markets enterprise-class solid-state drives for use in high performance storage and server systems, and high-density dynamic random access memory modules for networking, communications and industrial applications. The complaint alleges that defendants knew or recklessly disregarded that their public statements concerning STEC's business, operations and prospects were materially false and misleading.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.