Seagate Technology Holdings plc

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Seagate Technology Holdings plc (NASDAQ: STX) resulting from allegations that Seagate may have issued materially misleading business information to the investing public.

If you purchased Seagate securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Seagate securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

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.”

On this news, Seagate’s stock price fell $2.44, or 3.88%, in intraday trading on April 20, 2023.

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Company Name: Seagate Technology Holdings plc
Stock Symbol: STX
Class Period: N/A
Court: N/A

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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