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Stock Market & Financial Investment News

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December 6, 2012
08:57 EDTSTECBalch Hill asks STEC to consider alternatives, including sale
Balch Hill Partners, owner of 9.0% of STEC's outstanding shares, said it delivered a letter to the board of STEC expressing their concerns about the strategic direction of the company and its current performance. Balch Hill said STEC's performance has declined significantly over the past two years, mainly as a result of increasing competition. Balch Hill called upon STEC to immediately consider: a reduction in expenses, focusing the company’s efforts on its core products, and exploring all strategic alternatives, including a sale of the company.
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