In March, I began tracking here the SEC's trials to date in FY 2014 (which began on October 1, 2013), and the results in each case. On Friday, June 6, 2014, a jury in the U.S. District Court for the Central District of California returned a verdict against the SEC in what I believe to be the agency's 15th trial this year--an insider trading case the SEC filed in July 2012 against Manouchehr Moshayedi, the former CEO of STEC Inc. The SEC also lost an insider trading trial just seven days earlier, on May 30.

The SEC alleged that in 2009, Moshayedi sold 9 million shares of STEC stock belonging to him or his brother despite the fact that he had learned "critical nonpublic information that was likely to have a detrimental impact on the stock price." On the jury's first day of deliberations, however, it found in favor of Moshayedi. Following the verdict, Moshayedi expressed his gratitude to the jury for listening to the evidence, adding that "the justice system works,” Bloomberg reports. The SEC's John Nester told Bloomberg that the agency respected the jury's verdict "but will continue to aggressively enforce the law when we believe the evidence supports the allegations.”

Including the Moshayedi case,the SEC's scorecard in FY 2014 now includes (to my knowledge) 15 trials. In those cases, the SEC now has four outright victories (in which it won on all of its claims), seven losses (in which it lost on all of its claims), and four mixed verdicts (in which it won on some claims and lost on others).

I will try to maintain an updated running list of the SEC's trials in FY 2014. Here is the list as it currently stands:

SEC v. Cuban:  VERDICT—FOR DEFENDANT (Oct. 2013)

SEC v. AIC  Inc.: VERDICT—FOR  SEC (Oct. 2013)

SEC v. True North Finance Corp.: VERDICT—FOR SEC (Oct. 2013)

SEC v. Kovzan: VERDICT—FOR DEFENDANT (December 2013)

SEC v. Jensen: VERDICT—FOR DEFENDANTS (December 2013)

SEC v. Schvacho: VERDICT— FOR DEFENDANT (January 2014)

SEC v. Yang: VERDICT—MIXED (January 2014)

SEC v. Steffes: VERDICT—FOR DEFENDANTS (January 2014)

SEC v. Life Partners: VERDICT—MIXED (Feb. 2014)

SEC v. DiGiorgio: VERDICT—FOR  SEC (Feb. 2014)

SEC v. Quan: VERDICT—MIXED (Feb. 2014)

SEC v. Jacobs: VERDICT—MIXED (March 2014)

SEC v. Wyly: VERDICT—FOR  SEC (May 2014)

SEC v. Obus: VERDICT—FOR DEFENDANTS (May 2014)

SEC v. Moshayedi: VERDICT—FOR DEFENDANTS (June 2014)

If you are aware of any other SEC trials that should be added to the scorecard, please pass them along.

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