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Litigation

Jun. 10, 2014

SEC strikes out in second insider trading case

The SEC went 0-for-2 over the past seven days in insider trading cases as a federal jury in Santa Ana on Friday found the former CEO of sTec Inc. not liable for hiding news its biggest customer wouldn't renew a $120 million supply contract.


By John Roemer


Daily Journal Staff Writer


The U.S. Securities and Exchange Commission went 0-for-2 over the past eight days in insider trading cases as a federal jury in Santa Ana on Friday found the former chief executive of sTec Inc. not liable for hiding news its biggest customer wouldn't renew a $120 million supply contract.


A week earlier a federal jury in Manhattan cleared the manager of a New York-based hedge fund, Nelson J. Obus, a...

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