Announcement of Glancy Binkow & Goldberg, Representing Stec Shareholders

Law Firm Glancy Binkow & Goldberg LLP announces that all persons or entities who purchased the securities of STEC, Inc. between June 16, 2009 and November 3, 2009, inclusive, have only 25 days until the January 5, 2010, deadline to move the Court to serve as Lead Plaintiff in the securities fraud class action lawsuit. The case filed by Glancy Binkow & Goldberg LLP, Jean v. STEC, Inc., et al., No. SACV09-01304-JVS, has been assigned to the Honorable James V. Selna, United States District Judge for the Central District of California.

A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP.

STEC, Inc. designs, manufactures and markets enterprise-class solid state drives for use in high-performance storage and server systems, and high-density dynamic random access memory modules for networking, communications and industrial applications. The Complaint charges STEC and certain of the Company’s executive officers with violations of the Securities Exchange Act of 1934, and further alleges that throughout the Class Period knew or recklessly disregarded that their public statements concerning STEC’s business, operations and prospects were materially false and misleading.

Specifically, the defendants made false
and/or misleading statements and/or failed to disclose:

• that the Company over sold its largest customer more inventory than it required;
• that, as such, the Company overstated the demand for its ZeusIOPS SSD products;
• that the Company’s subsequent revenue and financial results for the following year would be negatively impacted; and
• that, as a result of the above, Defendants’ statements during the Class Period lacked a reasonable basis.

On November 3, 2009, STEC shocked investors when it announced that one of its largest customers, which accounts for 90 percent of STEC’s ZeusIOPS SSD business and which had placed a $120 million order for the second half of 2009, would carry 2009 inventory into 2010, placing STEC’s 2010 first quarter results at risk. As a result of this news, shares of STEC declined $9.01 per share, or more than 38%, to close on November 4, 2009, at $14.14 per share on unusually heavy trading volume.

The Private Securities Litigation Reform Act of 1995 requires the Court to appoint a ‘Lead Plaintiff’ in this case. Any person or group who suffered a loss as a result of purchasing STEC securities between June 16, 2009 and November 3, 2009, may ask the Court to be appointed as Lead Plaintiff, but must file a motion no later than the January 5, 2010 deadline.