SEC Takes Ex-sTec’s CEO Manouchehr Moshayedi to Trial

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SEC takes ex-CEO to trial over insider trade in sTec stock offer
John Berry, the SEC lawyer, said during opening statements in Santa Ana, CA, federal court, that former sTec Inc. CEO Manouchehr Moshayedi traded in a secondary offering of the company’s stock in 2009 while knowing a major customer’s demand for a flagship flash memory product was less than expected.