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Short Take: SEC sues two former Cal Micro executives

The SEC has sued two former executives of California Micro Devices, accusing them of fraud and insider trading. The suit, which marks only the latest action against a number of former Cal Micro executives, targets former chairman and CEO Chan M. Desaigoudar, and former treasurer and principal financial officer Steven J. Henke, who in July were convicted of securities fraud and face up to 40 years in prison.

The SEC has sued two former executives of California Micro Devices, accusing them of fraud and insider trading. The suit, which marks only the latest action against a number of former Cal Micro executives, targets former chairman and CEO Chan M. Desaigoudar, and former treasurer and principal financial officer Steven J. Henke, who in July were convicted of securities fraud and face up to 40 years in prison.