ATLANTA, July 12, 2023 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC informs investors that a class action lawsuit has been filed against Seagate Technology Holdings plc (“Seagate” or the “Company”) (NASDAQ: STX). The lawsuit alleges Seagate made materially false and/or misleading statements and/or failed to disclose material adverse facts, including allegations that: (a) the nature and magnitude of Seagate’s HDD sales to Huawei, including that Seagate experienced a significant acceleration in sales to Huawei immediately after the U.S. Department of Commerce Bureau of Industry and Security’s (“BIS”) rules went into effect and Seagate’s competitors stopped selling to Huawei; (b) that the underlying details of Seagate’s HDD manufacturing process, including the use of covered U.S. software and technology in “essential ‘production’” processes, rendered its sales to Huawei in violation of the BIS export rules; and (c) Seagate was in violation of the BIS export rules which resulted in an ongoing investigation by the U.S. Department of Commerce and exposed the Company to hundreds of millions of dollars in fines and penalties.
If you bought shares of Seagate between September 15, 2020 and October 25, 2022, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. cholzer@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website www.holzerlaw.com/case/seagate/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is September 8, 2023.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
