|Company name||Symantec Corporation|
|Class period||May 20, 2017 – May 10, 2018|
|Lead plaintiff deadline||July 16, 2018|
|Court||Northern District of California|
NEW YORK, May 18, 2018 – Bragar Eagel & Squire, P.C. announces to investors that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Symantec Corporation (NASDAQ: SYMC) between May 20, 2017 and May 10, 2018 (the “Class Period”). Investors have until July 16, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On May 10, 2018, Symantec announced that its financial results and forecast may change based on the outcome of an internal investigation that was initiated after concerns were raised by a former employee. Following this news, shares of Symantec fell $9.66 per share, or over 33%, to close at $19.52 per share on May 11, 2018.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Symantec’s internal controls over financial reporting were materially weak and deficient; (2) Symantec’s later disclosed “reporting of certain Non-GAAP measures including those that could impact executive compensation programs” would lead to heightened regulatory scrutiny by the Securities and Exchange Commission (“SEC”); and (3) as a result, Symantec’s public statements were materially false and misleading at all relevant times.
If you purchased or otherwise acquired Symantec securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.