Archived Investigations

Seagate Technology Holdings plc (NasdaqGS: STX)

Company Name:eagate Technology Holdings plc
Stock Symbol:NasdaqGS: STX
Court:Northern District of California
Class Period Start:09/15/2020
Class Period End (inclusive):10/25/2022
Filing Deadline:The deadline has passed.
July 11, 2023

Seagate and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On October 26, 2022, the Company disclosed that it received a Proposed Charging Letter from the U.S. Department of Commerce Bureau of Industry and Security (“BIS”) alleging that Seagate violated the Export Administration Regulations by providing Seagate hard disk drives to “a customer and its affiliates listed on the BIS Entity List between August 2020 and September 2021.”

On this news, shares of Seagate fell nearly 8%, damaging investors, falling nearly an additional 7% over the following three trading days.

The case is UA Local 38 Defined Contribution Pension Plan v. Seagate Technology Holdings plc, No. 23-cv-03431.

Click here to read the first filed complaint.