SHAREHOLDER ALERT: Potential Recovery for Seagate Technology Holdings plc (STX) Investors Affected by Stock Drop – Levi & Korsinsky Pursuing Class Action Lawsuit

NEW YORK, NY / ACCESSWIRE / September 8, 2023 / If you suffered a loss on your Seagate Technology Holdings plc (NASDAQ:STX) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:

https://zlk.com/pslra-1/seagate-lawsuit-submission-form?prid=47340&wire=1

or contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or call (212) 363-7500 to speak to our team of experienced shareholder advocates.

THE LAWSUIT: A class action securities lawsuit was filed against Seagate Technology Holdings plc that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between September 15, 2020 and October 25, 2022.

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 stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/seagate-lawsuit-submission-form?prid=47340&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/

SOURCE: Levi & Korsinsky, LLP

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