back to article sTec flash founder cleared of insider trading charges

The wheels of SEC justice in the US grind exceedingly slowly and sometimes uselessly. Manouche Moshayedi, the founder and CEO of sTec, has just been cleared of insider trading charges filed almost four years ago. Since then sTec’s business has tumbled and it was bought by Western Digital for $340m – which was characterised as …

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  1. Anonymous Coward
    Anonymous Coward

    The rich never lose...

    Just what sort of evidence does the SEC need to dig up to win a case? A doodle from his office pad of him swimming in piles of money while gloating about having just insider traded? And even then, it'd probably need to be signed by him and notarised...

    Company officers should have their stock put into a trust for the duration that they have access to sensitive information about the company. If they need to sell it for something, tell the trustees "I need X million by Y so I can purchase my 3rd yacht" and let them sort out a liquidation plan.

    Too sensible? The rich really do write the laws for their benefit don't they. Still waiting on those responsible for the meltdown to be locked up. Bet the charges are coming any day now...

    1. Anonymous Coward
      Anonymous Coward

      Re: The rich never lose...

      Lefty logic:

      1) He's rich.

      2) He done it.

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