OCZ was a brand of Toshiba that was used for some of its solid-state drives (SSDs) before they were rebranded with Toshiba. OCZ Storage Solutions was a manufacturer of SSDs based in San Jose, California , USA and was the new company formed after the sale of OCZ Technology Group ' s SSD assets to Toshiba Corporation . Since entering the memory market as OCZ Technology in 2002, the company has targeted its products primarily at the computer hardware enthusiast market, producing performance DDR SDRAM , video cards , USB drives , power supply units , and various cooling products.
67-686: OCZ Storage Solutions was dissolved on April 1, 2016 and absorbed into Toshiba America Electronic Components, Inc, which later then became Kioxia . OCZ was originally called "The Overclockerz Store" when it was founded by Ryan Petersen in 2000 selling overclocked Athlon processors. San Jose, California-based OCZ Technology Group, Inc. was founded in 2002 by Ryan Petersen and Bhulinder Sethi. OCZ maintained satellite offices in The Netherlands, United Kingdom, and Israel along with manufacturing and logistics facilities in Taiwan. In June 2006, OCZ went public on
134-521: A Ponzi scheme because she was the firm's compliance attorney. The investigation was closed, and Swanson subsequently left the SEC, and married Shana Madoff. Approximately 45 percent of institutional investors thought that better oversight by the SEC could have prevented the Madoff fraud. Harry Markopolos complained to the SEC's Boston office in 2000, telling the SEC staff they should investigate Madoff because it
201-461: A civil action in a U.S. District Court , or an administrative proceeding which is heard by an independent administrative law judge (ALJ). The SEC does not have criminal authority but may refer matters to state and federal prosecutors. The Economic and Risk Analysis Division (DERA) was created in September 2009 to integrate financial economics and rigorous data analytics into the core mission of
268-501: A "pending" status on 197 of the 312 recommendations made in audit reports. Some of the recommendations included imposing disciplinary action on SEC employees who receive improper gifts or other favors from financial companies, and investigating and reporting the causes of the failures to detect the Madoff ponzi scheme. In a 2011 article by Matt Taibbi in Rolling Stone , former SEC employees were interviewed and commented negatively on
335-457: A $ 30 million loan at a steep 15% interest rate from Hercules Technology Growth Capital. Because OCZ put in their own firm as collateral for the loan, Hercules Technology Growth Capital would gain ownership of OCZ if OCZ failed to repay the loan. After failing to meet the term of the loan, it was extended to June 2014, with the share price dropping 40% on November 4, 2013. On November 25, 2013, Hercules took control of OCZ's bank accounts because it
402-478: A 1 TB capacity. In November 2010, OCZ acquired intellectual property from Solid Data Inc., for Fibre Channel , SAS, and controller assets for solid state drives. The cost was approximately $ 950,000, paid with restricted common stock and cash. OCZ discontinued all RAM production, citing poor market performance and the weakening global DRAM market, by the end of their 2010 fiscal year on February 28, 2011. In March 2011, OCZ acquired Indilinx Company, Limited,
469-560: A clear-cut set of deadlines, rules and guidelines. The SEC succeeded; Kennedy reassured the American business community that they would no longer be deceived and tricked and taken advantage of by Wall Street. He became a cheerleader for ordinary investors to return to the market and enable the economy to grow again. Later SEC commissioners and chairmen include William O. Douglas , Jerome Frank , and William J. Casey . Since 1994, most registration statements (and associated materials) filed with
536-519: A measure to reduce volatility in turbulent markets. The SEC investigated cases involving individuals attempting to manipulate the market by passing false rumors about certain financial institutions. The commission has also investigated trading irregularities and abusive short-selling practices. Hedge fund managers, broker-dealers, and institutional investors were also asked to disclose under oath certain information pertaining to their positions in credit default swaps . The commission also negotiated
603-487: A meeting at the SEC in which top staff discussed refusing to admit the destruction had taken place, because it was possibly illegal . Iowa Republican Senator Charles Grassley , among others, took note of Flynn's call for protection as a whistleblower, and the story of the agency's document-handling procedures. The SEC issued a statement defending its procedures. NPR quoted University of Denver Sturm College of Law professor Jay Brown as saying: "My initial take on this
670-582: A much lower return rate of 1.34%. KitGuru tested five samples of the OCZ ARC100 240GB SSD, which was released after Toshiba acquired OCZ's assets, over four months in 2014 and 2015. The drives were deliberately tested to destruction; the lowest lifetime throughput was 350TB and the highest 700TB. The drive's warranty covers 20GB of data transfer a day for three years, a total of 22TB. Kioxia Kioxia Holdings Corporation ( / k i ˈ oʊ k s i ə / ), simply known as Kioxia and stylized as KIOXIA ,
737-478: A narrative account, called the " management discussion and analysis " (MD&A), that outlines the previous year of operations and explains how the company fared in that time period. MD&A usually addresses the upcoming year, outlining future goals and approaches to new projects. Quarterly and semiannual reports from public companies are crucial for investors to make sound decisions when investing in capital markets. Unlike banking , investment in capital markets
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#1732884582577804-455: A privately-held fabless provider of flash controller silicon and software for SSDs, for approximately $ 32 million of OCZ common stock. On October 5, 2011, OCZ announced an intent to acquire PLX Technology 's Abingdon R&D department (formerly Oxford Semiconductor), which specializes in storage SoC development. In 2012 OCZ acquired Sanrad Inc., a privately-held provider of flash caching and virtualization software and hardware from
871-453: A result, Cox said that an investigation would ensue into "all staff contact and relationships with the Madoff family and firm, and their impact, if any, on decisions by staff regarding the firm". SEC Assistant Director of the Office of Compliance Investigations Eric Swanson had met Madoff's niece, Shana Madoff , when Swanson was conducting an SEC examination of whether Bernard Madoff was running
938-537: A self-made multimillionaire, financier, and leader among the Irish-American community, as chairman of the SEC. Roosevelt chose Kennedy partly based on his experience on Wall Street. Two of the other five commissioners were James M. Landis and Ferdinand Pecora . Kennedy added a number of intelligent young lawyers to the SEC staff, including William O. Douglas and Abe Fortas , both of whom later became Supreme Court Justices. Kennedy's team defined four missions for
1005-473: A strict policy of refraining from commenting on the existence or status of any ongoing investigation. Prior to the enactment of the federal securities laws and the creation of the SEC, securities trading was governed by so-called blue sky laws . These laws were enacted and enforced at the state level and regulated the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws varied among states, they all required
1072-677: Is a Japanese multinational computer memory manufacturer headquartered in Tokyo , Japan. The company was spun off from the Toshiba conglomerate in June 2018 and gained its current name in October 2019; it is currently majority owned by Bain Capital which holds a 56% stake, while Toshiba holds a 41% stake. In the early 1980s, while still part of Toshiba, the company was credited with inventing flash memory . As of
1139-719: Is an independent agency of the United States federal government , created in the aftermath of the Wall Street Crash of 1929 . Its primary purpose is to enforce laws against market manipulation . Created by Section 4 of the Securities Exchange Act of 1934 (now codified as 15 U.S.C. § 78d and commonly referred to as the Exchange Act or the 1934 Act), SEC enforces the Securities Act of 1933 ,
1206-772: Is headquartered in Washington, D.C. The SEC's divisions are: Corporation Finance is the division that oversees the disclosure made by public companies , as well as the registration of transactions, such as mergers, made by companies. The division is also responsible for operating EDGAR. The Trading and Markets division oversees self-regulatory organizations (SRO's) such as the Financial Industry Regulatory Authority (FINRA) and Municipal Securities Rulemaking Board (MSRB) and all broker-dealer firms and investment houses . This division also interprets proposed changes to regulations and monitors operations of
1273-455: Is not guaranteed by the federal government. The potential for large gains needs to be weighed against that of sizable losses. Mandatory disclosure of financial and other information about the issuer and the security itself gives private individuals as well as large institutions the same fundamental facts about the public companies they invest in, thereby increasing public scrutiny while reducing insider trading and fraud . In an attempt to level
1340-566: The Great Recession that the SEC was supposed to have been regulating. The documents included those relating to " Matters Under Inquiry ", or MUI, the name the SEC gives to the first stages of the investigation process. The tradition of destruction began as early as the 1990s. This SEC activity eventually caused a conflict with the National Archives and Records Administration when it was revealed to them in 2010 by Flynn. Flynn also described
1407-615: The London Stock Exchange Alternative Investment Market (LSE AIM), with the ticker symbol "OCZ". On May 25, 2007, OCZ acquired PC Power & Cooling , whose products include power supplies. PC Power & Cooling is in Carlsbad, California . It operated as a separate satellite office for OCZ and maintained its own product lines, although OCZ later launched OCZ-branded power supply models as well. In early March 2009, OCZ announced their intent to delist from
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#17328845825771474-674: The New York Stock Exchange , self-regulatory organizations , the Municipal Securities Rulemaking Board , NASDAQ , alternative trading systems , and any other persons engaged in transactions for the accounts of others. Section 4 of the 1934 Act transferred the FTC's enforcement authority under the 1933 Act to the newly created Securities and Exchange Commission and tasked the new Commission with enforcing both Acts. In 1934, Roosevelt named his friend Joseph P. Kennedy ,
1541-528: The RAD Group ; Sanrad became the OCZ Israel office. Reports in 2012 indicated that a possible acquisition of OCZ by Seagate Technology fell through. On September 17, 2012, founder and CEO Ryan Petersen was fired by his board of directors , and chief marketing officer Alex Mei was appointed as interim CEO. Media outlets speculated that Ryan was ousted by the board of directors. In the early 2010s, SSD devices with
1608-533: The SEC, was at the time representing Morgan Stanley and was involved in this case. While the insider case was dropped at the time, a month prior to the SEC's settlement with Aguirre the SEC filed charges against Pequot. The Senate released a report in August 2007 detailing the issue and calling for reform of the SEC. On September 26, 2016, Democratic senator Mark Warner sent a letter to the SEC, asking them to evaluate whether
1675-544: The Toshiba Corporation completed its acquisition of OCZ Storage Solutions , renaming it OCZ and making it a brand of Toshiba. On June 1, 2018, due to heavy losses experienced by the bankruptcy of the Westinghouse subsidiary of former parent company Toshiba over nuclear power plant construction at Vogtle Electric Generating Plant in 2016, Toshiba Memory Corporation ( 東芝メモリ株式会社 , Tōshiba Memori Kabushikigaisha )
1742-833: The Trust Indenture Act of 1939 , the Investment Company Act of 1940 , the Investment Advisers Act of 1940 , the Sarbanes–Oxley Act of 2002 , among other statutes. The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. To achieve its mandate, the SEC enforces the statutory requirement that public companies and other regulated entities submit quarterly and annual reports , as well as other periodic disclosures. In addition to annual financial reports , company executives must provide
1809-460: The 128 GB Octane had a return rate of 52.07%. No other company had any SSDs with a return rate of over 5% from this retailer in the data set that was published on March 5, 2013. In a dataset published on April 30, 2014, OCZ again had the highest return rates from the same anonymous retailer. The next dataset, published on November 6, 2014, shows only one OCZ drive, the OCZ Agility 3 480 GB, which had
1876-513: The Commission and other Divisions/Offices and developing customized, analytic tools and analyzes to proactively detect market risks indicative of possible violations of the Federal securities laws. Using data, DERA staff create analytic programs designed to detect patterns identifying risks, enabling Commission divisions and offices to deploy scarce resources targeting possible misconduct. DERA also houses
1943-453: The Commission that the SEC undertake enforcement action against a person or company if that entity engages in a particular action. These letters are sent in response to requests made when the legal status of an activity is not clear. These letters are publicly released and increase the body of knowledge on what exactly is and is not allowed. They represent the staff's interpretations of the securities laws and, while persuasive, are not binding on
2010-502: The Investment Company Act of 1940 and Investment Advisers Act of 1940. This division's responsibilities include: The Enforcement Division investigates violations of the securities laws and regulations to bring legal actions against alleged violators. It is the largest division in terms of both headcount and budget, and its resources have been increased by more than 50% since the 2007–2008 financial crisis . The SEC can bring
2077-556: The LSE to pursue a listing on an American stock exchange. On April 24, 2010, OCZ announced a listing on NASDAQ with the ticker symbol "OCZ". In September 2010 OCZ announced the RevoDrive, which is a bootable PCI-E drive for the enthusiast market. It also recently announced an SSD interface called High Speed Data Link (HSDL), which is a PCIe/SAS hybrid interface, along with corresponding products to implement it. As of 2012, OCZ's SSDs offered up to
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2144-444: The Madoff investigation, among others, because Kotz was a "very good friend" with Markopolos. It concluded that while it was unclear when Kotz and Markopolos became friends, it would have violated U.S. ethics rules if their relationship began before or during Kotz's Madoff investigation. The report also found that Kotz himself "appeared to have a conflict of interest" and should not have opened his Standford investigation, because he
2211-518: The NASDAQ gave OCZ until September 16, 2013 to file its delayed earnings. The company was several quarters late in filing and restated earnings back to 2008. On September 12, 2013, the company disclosed it would not meet the deadline, which was then extended to October 7. 2013 saw OCZ's revenue fall steeply from $ 88.6 million in the second fiscal quarter of 2012 to $ 33.5 million in the second fiscal quarter of 2013, while financial losses increased. OCZ took
2278-558: The OCZ brand that use SATA III , PCI Express , Serial attached SCSI and USB 3.0 interfaces, for both client and enterprise applications were produced and marketed. OCZ-branded power supply units were also manufactured. On October 10, 2012, OCZ appointed board member Ralph Schmitt as the company's president and CEO. Schmitt joined OCZ from PLX, where he served as president and CEO since 2008. Several shareholder lawsuits revolved around questionable accounting practices during 2012. In May 2013
2345-478: The President of the United States. No more than three Commissioners may belong to the same political party. Their terms last five years and are staggered so that one commissioner's term ends on June 5 of each year. Service may continue up to eighteen additional months past term expiration. The president also designates one of the commissioners as chairman, the SEC's top executive. However, the president does not possess
2412-516: The SEC can be accessed via the SEC's online system, EDGAR. In 2019, the Securities and Exchange Commission Historical Society introduced an online gallery to illustrate changes in the US securities market structure since the 1930s. The online gallery features a narrative history supported by dozens of documents, papers, interviews, photos and videos. The commission has five commissioners who are appointed by
2479-476: The SEC to inform rule-making initiatives, identify and monitor risks, improve industry practices and pursue misconduct. There are 11 regional offices throughout the US, which are listed below along with the name of the respective regional director. Among the SEC's offices are: Comment letters are issued by the SEC's Division of Corporation Finance in response to a company's public filing. This letter, initially private, contains an itemized list of requests from
2546-753: The SEC's Office of the Inspector General (OIG). Going to the OIG was "well-known to be a career-killer". Because of concerns raised by David P. Weber , former SEC Chief Investigator, regarding conduct by SEC Inspector General H. David Kotz , Inspector General David C. Williams of the U.S. Postal Service was brought in to conduct an independent, outside review of Kotz's alleged improper conduct in 2012. Williams concluded in his 66-page Report that Kotz violated ethics rules by overseeing probes that involved people with whom he had conflicts of interest due to "personal relationships". The report questioned Kotz's work on
2613-509: The SEC's charges without admitting the allegations against him. As of 2015, the SEC's litigation continued against Petersen, and finally came to a close in 2017. On November 27, 2013, OCZ Technology stock was halted. OCZ then stated they expected to file a petition for bankruptcy and that Toshiba Corporation had expressed interest in purchasing its assets in a bankruptcy proceeding. On December 2, 2013, OCZ announced Toshiba had agreed to purchase nearly all of OCZ's assets for $ 35 million. The deal
2680-522: The SEC, but only 21 letters for these companies were posted on the SEC's website. John W. White, the head of the Division of Corporation Finance, told the New York Times in 2006: "We have now resolved the hurdles of posting the information... We expect a significant number of new postings in the coming months." No-action letters are letters by the SEC staff indicating that the staff will not recommend to
2747-507: The SEC. Each comment in the letter asks the filer to provide additional information, modify their submitted filing, or change the way they disclose in future filings. The filer must reply to each item in the comment letter. The SEC may then reply back with follow-up comments. This correspondence is later made public. In October 2001 the SEC wrote to CA, Inc. , covering 15 items, mostly about CA's accounting, including 5 about revenue recognition . The chief executive officer of CA, to whom
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2814-408: The SEC. The Division is involved across the entire range of SEC activities, including policy-making, rule-making, enforcement, and examination. As the agency's "think tank", DERA relies on a variety of academic disciplines, quantitative and non-quantitative approaches, and knowledge of market institutions and practices to help the Commission approach complex matters in a fresh light. DERA also assists in
2881-679: The Securities Act of 1933 and Securities Exchange Act of 1934; both laws are considered parts of Franklin D. Roosevelt 's New Deal program. After the Pecora Commission hearings on abuses and frauds in securities markets, Congress passed the Securities Act of 1933 ( 15 U.S.C. § 77a ), which federally regulates original issues of securities across state lines, primarily by requiring that issuing companies register distributions prior to sale so that investors may access basic financial information and make informed decisions. For
2948-400: The commission's Chief Economist. The Division of Examinations conducts the SEC's National Exam Program. The Division's mission is to protect investors, ensure market integrity and support responsible capital formation through risk-focused strategies that: (1) improve compliance; (2) prevent fraud; (3) monitor risk; and (4) inform policy. The results of the Division's examinations are used by
3015-538: The commission's efforts to identify, analyze, and respond to risks and trends, including those associated with new financial products and strategies. Through the range and nature of its activities, DERA serves the critical function of promoting collaborative efforts throughout the agency and breaking through silos that might otherwise limit the impact of the agency's institutional expertise. The Division's activities include providing detailed, high-quality economic and statistical analyzes, and specific subject-matter expertise to
3082-426: The contamination. As of April 14, 2024, Kioxia ownership is as follows: Kioxia Holdings Corporation is the holding company of Kioxia Corporation. Kioxia Corporation is the parent company of several companies including Kioxia Systems Company, Kioxia Advanced Package Corporation, Kioxia America, and Kioxia Europe. Securities and Exchange Commission The U.S. Securities and Exchange Commission ( SEC )
3149-456: The courts. One such use, from 1975 to 2007, was with the nationally recognized statistical rating organization (NRSRO), a credit rating agency that issues credit ratings that the SEC permits other financial firms to use for certain regulatory purposes. In the latest Center for Effective Government analysis of 15 federal agencies which receive the most Freedom of Information Act (FOIA) requests published in 2015 (using 2012 and 2013 data,
3216-541: The current disclosure regime was adequate, citing the low number of companies' disclosures to date. In 2009, the Project on Government Oversight , a government watchdog group, sent a letter to Congress criticizing the SEC for failing to implement more than half of the recommendations made to it by its Inspector General . According to POGO, in the prior two years, the SEC had taken no action on 27 out of 52 recommended reforms suggested in Inspector General reports, and still had
3283-551: The first year of the law's enactment, the enforcement of the statute rested with the Federal Trade Commission. The subsequent Securities Exchange Act of 1934 ( 15 U.S.C. § 78d ) regulates secondary markets for securities. The 1934 Act regulates secondary trading between individuals and companies which are often unrelated to the original issuers of securities. Entities under the SEC's authority include securities exchanges with physical trading floors such as
3350-547: The former SEC chairman, has recognized the organization's multiple failures in relation to the Bernard Madoff fraud. Starting with an investigation in 1992 into a Madoff feeder fund that only invested with Madoff, and which, according to the SEC, promised "curiously steady" returns, the SEC did not investigate indications that something was amiss in Madoff's investment firm. The SEC has been accused of missing numerous red flags and ignoring tips on Madoff's alleged fraud. As
3417-649: The industry. In practice, the SEC delegates most of its enforcement and rulemaking authority to FINRA. In fact, all trading firms not regulated by other SROs must register as a member of FINRA. Individuals trading securities must pass exams administered by FINRA to become registered representatives . The Investment Management Division oversees registered investment companies, which include mutual funds , as well as registered investment advisors . These entities are subject to extensive regulation under various federal securities laws. The Division of Investment Management administers various federal securities laws, in particular,
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#17328845825773484-402: The largest settlements in the history of the SEC (approximately $ 51 billion in all) on behalf of investors who purchased auction rate securities from six different financial institutions. The SEC has been criticized "for being too 'tentative and fearful' in confronting wrongdoing on Wall Street ", and for doing "an especially poor job of holding executives accountable". Christopher Cox ,
3551-474: The letter was addressed, pleaded guilty to fraud at CA in 2004. In June 2004, the SEC announced that it would publicly post all comment letters, to give investors access to the information in them. An analysis of regulatory filings in May 2006 over the prior 12 months indicated, that the SEC had not accomplished what it said it would do. The analysis found 212 companies that had reported receiving comment letters from
3618-652: The loss of at least 6 exabytes of flash memory, with some sources estimating the loss as high as 15 exabytes. Western Digital used (and still uses) Kioxia's facilities for making its own flash memory chips. On August 30, 2019, the company announced that it signed a definitive agreement to acquire Taiwanese electronics manufacturer Lite-On 's SSD business for US$ 165 million . The acquisition closed on July 1, 2020. On July 18, 2019, Toshiba Memory Holdings Corporation announced it would change its name to Kioxia on October 1, 2019, including all Toshiba memory companies. On October 1, 2019, Toshiba Memory Holdings Corporation
3685-408: The most recent years available), the SEC was among the 5 lowest performers, earned a D− by scoring 61 out of a possible 100 points, i.e. did not earn a satisfactory overall grade. It had deteriorated from a D− in 2013. The SEC's Enforcement Division took a number of major actions in 2009–12. The SEC announced on September 17, 2008, strict new rules to prohibit all forms of " naked short selling " as
3752-482: The new Commission: (1) to restore investor confidence in the securities market, which had practically collapsed; (2) to restore integrity to securities markets by prosecuting and eliminating fraudulent and unsound practices targeting investors; (3) to end million-dollar insider trading by top officials of major corporations; and (4) to establish a complex and universal system of registration for securities sold in America, with
3819-547: The playing field for all investors, the SEC maintains an online database called EDGAR (the Electronic Data Gathering, Analysis, and Retrieval system) online from which investors can access information filed with the agency, such as reports. The same online system also accepts tips and complaints from investors to help the SEC track down violators of the securities laws, as well as offering publications on investment-related topics for public education. The SEC maintains
3886-490: The power to fire the appointed Commissioners, a provision that was made to ensure the independence of the SEC. This issue arose during the 2007–2008 financial crisis and the John McCain 2008 presidential campaign . The current board members as of September 24, 2024: President Biden has nominated the following to fill a seat on the commission. They await Senate confirmation. Within the SEC, there are six divisions, which
3953-484: The registration of all securities offerings and sales, as well as of every U.S. stockbroker and brokerage firm. However, blue sky laws were generally considered ineffective. For example, as early as 1915, the Investment Bankers Association told its members that they could circumvent blue sky laws by making securities offerings across state lines through the mail. The SEC's authority was established by
4020-552: The second quarter of 2021, the company was estimated to have 18.3% of the global revenue share for NAND flash solid-state drives . Kioxia is a combination of the Japanese word kioku meaning memory and the Greek word axia meaning value . In 1980, Fujio Masuoka , an engineer at Kioxia predecessor Toshiba, invented flash memory, and in 1984, Masuoka and his colleagues presented their invention of NOR flash. In January 2014,
4087-489: Was completed on January 21, 2014 when the assets of OCZ Technology Group became a new independently operated subsidiary of Toshiba named OCZ Storage Solutions. OCZ Technology Group then changed its name to ZCO Liquidating Corporation; on August 18, 2014, ZCO Liquidating Corporation and its subsidiaries were liquidated. In February 2014, the PC Power & Cooling subsidiary was sold to FirePower Technology. OCZ Storage Solutions
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#17328845825774154-632: Was dissolved on April 1, 2016 and absorbed into Toshiba America Electronic Components, Inc., with OCZ becoming a brand of Toshiba. Toshiba later reorganized its memory products division under a new company and brand, Kioxia . OCZ-branded SSDs were notable for high failure rates. Two lines from the old OCZ Technology Group, the Petrol and the SATA II versions of the Octane, had return rates of over 40% at one anonymous French technology online retailer. The SATA II version of
4221-399: Was friends with a female attorney who represented victims of the fraud. According to former SEC employee and whistleblower Darcy Flynn, also reported by Taibbi, the agency routinely destroyed thousands of documents related to preliminary investigations of alleged crimes committed by Deutsche Bank , Goldman Sachs , Lehman Brothers , SAC Capital , and other financial companies involved in
4288-460: Was impossible to legally make the profits Madoff claimed using the investment strategies that he said he used. In June 2010, the SEC settled a wrongful termination lawsuit with former SEC enforcement lawyer Gary J. Aguirre , who was terminated in September 2005 following his attempt to subpoena Wall Street figure John J. Mack in an insider trading case involving hedge fund Pequot Capital Management ; Mary Jo White , who later served as chair of
4355-632: Was not in compliance with the conditions of the loan. The Securities and Exchange Commission charged former CEO Ryan Petersen and former CFO Arthur Knap for accounting failures. In a complaint filed in the Northern District of California , the SEC alleged that OCZ's former CEO Ryan Petersen engaged in a scheme to materially inflate OCZ's revenues and gross margins from 2010 to 2012. It separately charged OCZ's former chief financial officer Arthur Knapp for certain accounting, disclosure, and internal accounting controls failures at OCZ. Knapp agreed to settle
4422-554: Was renamed Kioxia Holdings Corporation and Toshiba Memory Corporation was renamed Kioxia Corporation. This renaming also included companies associated with Toshiba's solid-state drive brand OCZ . In February 2022, Kioxia and Western Digital reported that contamination issues have affected the output of their flash memory joint-production factories, with WD admitting that at least 6.5 exabytes of memory output being affected. The Kiakami and Yokkaichi factories in Japan stopped producing due to
4489-531: Was spun off from the Toshiba Corporation. Toshiba maintained a 40.2% equity in the new company. The new company consisted of all of Toshiba memory businesses. Toshiba Memory Corporation became a subsidiary of the newly formed Toshiba Memory Holdings Corporation on March 1, 2019. In June 2019, Toshiba Memory Holdings Corporation experienced a power cut at one of its factories in Yokkaichi, Japan, resulting in
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