TECHNOLOGY & TELECOMMUNICATIONS

Times Staff and Wire Reports

Seymour Cray Faces Charges in SEC Investigation: The supercomputing industry pioneer is expected to be charged in an insider trading case, according to a regulatory disclosure made by Cray Computer Corp. Colorado Springs, Colo.-based Cray Computer, where founder Cray is still chairman, also faces Securities and Exchange Commission allegations, as do President Terry Willkom and Vice President Michael Hammerton. In its filing, the company said it has been told the SEC staff plans to recommend civil penalties and injunctions. The SEC was said to be looking at trading in Cray Computer stock before a disclosure that Lawrence Livermore National Laboratory had canceled a $30-million supercomputer contract.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
61°