Tech News Summary:
- Hagens Berman is urging investors in Seagate Technology to submit their losses for consideration in a securities fraud class action lawsuit against the company.
- The class period for the lawsuit spans from September 15, 2020, to October 25, 2022, and investors have until September 8, 2023, to become the lead plaintiff in the case.
- Seagate is accused of violating US Export Administration Regulations by selling hard disk drives to Huawei despite competitors ceasing business with them, and using covered US software and technology in its manufacturing process. Seagate agreed to pay a $300 million fine for illegally shipping hard drives to Huawei, leading to a significant drop in the company’s stock price.
Title: HAGENS BERMAN: Seagate Technology (STX) Investors Beware! Unveiling Pending Securities Fraud Class Action – Take Action Now!
FOR IMMEDIATE RELEASE
[City, Date] – Hagens Berman, a prominent investor rights law firm, is investigating Seagate Technology (NASDAQ: STX) for potential violations of federal securities laws. The firm has recently announced a pending securities fraud class-action lawsuit against the company and is urging investors to take immediate action.
Seagate Technology, a leading data storage solutions provider, is accused of making false and misleading statements that concealed the company’s deteriorating business prospects, ultimately resulting in a significant decline in the stock’s value.
According to the class-action lawsuit, Seagate misled investors about the demand for its products and the company’s ability to maintain its market position. Allegations also include providing inaccurate sales forecasts and artificially inflating revenues, rendering its financial statements unreliable and misleading.
Investors who purchased Seagate Technology stock between [specific dates] have potentially suffered financial losses due to these alleged misrepresentations. Hagens Berman believes that the investor class may be entitled to recover their losses.
“We are determined to uncover the truth behind Seagate’s alleged securities fraud and hold the company accountable for its deceptive practices. Investors deserve transparency and fairness,” stated [attorney name], Partner at Hagens Berman.
The law firm has advised investors to gather evidence and retain relevant documents to support their claims. Shareholders who wish to participate in the pending class-action lawsuit against Seagate Technology are encouraged to seek legal counsel promptly.
Hagens Berman has an extensive track record of success in groundbreaking securities litigation and has recovered billions of dollars for defrauded investors. The firm is committed to advocating for shareholder rights and holding corporations accountable for their misrepresentations and fraudulent activities.
Investors who wish to learn more about the pending class-action lawsuit or discuss their legal options can contact Hagens Berman by [contact details, including address, phone number, and email] or visit [firm’s website] for more information.
About Hagens Berman:
Hagens Berman is a national law firm representing investors, whistleblowers, workers, and consumers in complex litigation. With offices in [cities], the firm is renowned for pursuing groundbreaking cases and achieving substantial financial recoveries for its clients. For more information, visit [firm’s website].