Emulex Reveals Trading Inquiry

Emulex Corp. said federal securities regulators and Nasdaq officials are asking the company about events that led to seven shareholder lawsuits accusing company insiders of dumping shares just before the stock fell in February.

The company is cooperating with the Securities and Exchange Commission and Nasdaq, said Mike Rockenbach, chief financial officer of the Costa Mesa storage network firm. “I think we acted appropriately,” he said.

Agency and Nasdaq officials would not comment.

Rockenbach declined to provide details about the inquiries, saying only that the agencies had questioned the timing of an Emulex Webcast on Feb. 9 warning that customers were deferring orders.

Emulex shares lost 21 cents to close at $43.53 on Nasdaq.