STX SHAREHOLDER ALERT: Jakubowitz Law Reminds Seagate Shareholders of a Lead Plaintiff Deadline of September 8, 2023

NEW YORK, July 28, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Seagate Technology Holdings plc (NASDAQ: STX).

To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/seagate-class-action-loss-submission-form/?id=42675&from=4

The lawsuit seeks to recover losses for shareholders who purchased Seagate between September 15, 2020 and October 25, 2022.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until September 8, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, Seagate Technology Holdings plc 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887

SOURCE Jakubowitz Law

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