… Two More Class Actions Vs. Stec

Kendall Law Group, founded by a former federal judge, began an investigation on behalf of STEC, Inc. shareholders. The investigation concerns possible securities violations regarding false and misleading public statements made by the company between August 3, 2009 and November 3, 2009.

The firm’s investigation is based on STEC’s November 3, 2009 announcement that one of its largest customers will be carrying 2009 inventory over into 2010, which could affect STEC’s 2010 first quarter results. This customer accounts for 90% of STEC’s Zeus IOPS SSD business and placed a $120 million order for the second half of 2009. On this news, STEC stock dropped nearly 39% to close at $14.14 on unusually heavy volume on November 4, 2009.

Kendall Law Group has nationwide experience representing investors in securities class actions. Lawyers at the firm include a former Dallas state and federal judge, a former United States Attorney, in addition to experienced securities lawyers.