SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Seagate Technology Holdings plc - STX

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Seagate Technology Holdings plc ("Seagate" or the "Company") (NASDAQ: STX).  Such investors are advised to contact Robert S. Willoughby at  [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Seagate and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

On October 26, 2022, Seagate issued a Form 8-K disclosing that it had received a Proposed Charging Letter ("PCL") from the U.S. Commerce Department's Bureau of Industry and Security ("BIS"), alleging violations of the U.S. Export Administration Regulations ("EAR").  Specifically, Seagate stated that "[t]he PCL alleges Seagate acted in violation of the EAR by providing Seagate hard drive disks ('HDDs') to a customer and its affiliates listed on the BIS Entity List between August 2020 and September 2021". 

On this news, Seagate's stock price fell $4.61 per share, or 7.95%, to close at $53.39 per share on October 26, 2022. 

Then, on April 19, 2023, the BIS issued a press release confirming the anticipated penalties previously outlined in the BIS Proposed Charging Letter.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

SOURCE Pomerantz LLP

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