Seagate Loss Submission Form

The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Seagate Technology Holdings plc who purchased common stock between September 15, 2020 and October 25, 2022.

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose 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.

If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.

Shareholders have until September 8, 2023 to request that the court appoint them lead plaintiff.