NEW YORK, NY / ACCESSWIRE / August 18, 2023 / The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased Seagate Technology Holdings plc ("Seagate") (NASDAQ:STX) between September 15, 2020 and October 25, 2022.
If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/seagate-class-action-submission-form?prid=43785&wire=1
Allegations against STX include that the Company made 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.
If you suffered a loss in Seagate you have until September 8, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: [email protected]
SOURCE: The Law Offices of Vincent Wong