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Stock Market & Financial Investment News

News Breaks
March 18, 2013
08:33 EDTSTECBalch Hill and Potomac Capital deliver open letter to STEC shareholders
"We believe there is significant value to be realized at STEC, but we do not believe this value will be realized unless the company's current board and executive management team are reconstituted. Accordingly, we have nominated a slate of highly qualified nominees for election to the Board who have a wealth of industry and management experience to guide the company in addressing market share losses and enhancing shareholder value for all... The company has not capitalized on this value. Instead, the current board and executive management team have presided over a massive loss of revenue and market share in the company's core OEM enterprise SSD market, even as that market grows strongly. The company has also suffered reputational damage caused by the SEC investigation involving trading in the Company's securities by Manouch Moshayedi and Mark Moshayedi."
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