It ain’t me, guv: Flash firm boss fires back at Feds' insider trading charges

STEC boss Manouche Moshayedi has issued a detailed rebuttal of the SEC's indictment that charged him with insider trading, saying that the SEC is plain wrong, according to TheRegister.

The SEC charges relate to a STEC public offering of shares held by Moshayedi and his brother Mark on 9 August, 2009, with the SEC alleging Moshayedi knew that EMC was going to reduce its purchase commitments for STEC's ZeusIOPS flash drives. This ended up causing STEC's share price to fall, yet the CEO went ahead (whether or not he had knowledge of this at this point is in dispute) with the public offering at the set price, from which he personally benefited to the tune of $88.46m….

More?  Check out http://www.theregister.co.uk/2012/08/31/stec_says_nuts_to_sec/