STX LAWSUIT ALERT: Levi & Korsinsky Notifies Seagate Technology Holdings plc Investors of a Class Action Lawsuit and Upcoming Deadline

NEW YORK, Aug. 17, 2023

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Seagate investors who were adversely affected by alleged securities fraud between September 15, 2020 and October 25, 2022. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/seagate-lawsuit-submission-form?prid=43598&wire=4

STX investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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.

WHAT'S NEXT? If you suffered a loss in Seagate during the relevant time frame, 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.