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Investigation announced for Investors who lost money with shares of Seagate Technology Holdings plc (NASDAQ: STX)

04-25-2023 05:09 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Seagate Technology Holdings plc (NASDAQ: STX) shares over potential securities laws violations.

An investigation for investors in Seagate Technology Holdings plc (NASDAQ: STX) shares over potential securities laws violations.

An investigation was announced concerning potential securities laws violations by Seagate Technology Holdings plc in connection with certain financial statements.

Investors who purchased shares of Seagate Technology Holdings plc (NASDAQ: STX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on whether a series of statements by Seagate Technology Holdings plc (NASDAQ: STX regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York based LivePerson, Inc. engages in conversational artificial intelligence. Seagate Technology Holdings plc reported that its annual Total Revenue rose from $69.62 million in 2021 to $514.8 million in 2022 and that its Net Loss increased from $124.97 million in 2021 to $225.74 million in 2022.

On April 19, 2023, the Bureau of Industry and Security (BIS) issued a release stating BIS imposed a $300 million penalty against Seagate related to shipments to Huawei. The release reported the civil penalty is to "resolve alleged violations of U.S. export controls related to selling hard disk drives (HDDs) to Huawei Technologies Co. Ltd. (Huawei) in violation of the foreign direct product (FDP) rule. This historic foreign direct product enforcement case and settlement represents the largest standalone administrative penalty in BIS history. Today's resolution also includes a multi-year audit requirement and a five-year suspended Denial Order."

Shares of Seagate Technology Holdings plc (NASDAQ: STX) closed on April 24, 2023 at $4.74 per share.

Those who purchased shares of Seagate Technology Holdings plc (NASDAQ: STX) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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