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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.