NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Seagate Technology Holdings plc.
Shareholders who purchased shares of STX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/seagate-loss-submission-form/?id=47046&from=3
CLASS PERIOD: September 15, 2020 to October 25, 2022
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) the nature and magnitude of Seagate’s hard disk drive (“HDD”) sales to Huawei Technologies Co. Ltd. (“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 (“BIS”) rules went into effect and Seagate’s competitors stopped selling to Huawei; and (b) 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. As a result, Seagate was in blatant violation of the BIS export rules which resulted in an ongoing investigation by the U.S. Department of Commerce and exposed Seagate to hundreds of millions of dollars in fines and penalties.
DEADLINE: September 8, 2023 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/seagate-loss-submission-form/?id=47046&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of STX during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the life cycle of the case. The deadline to seek to be a lead plaintiff is September 8, 2023. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
