… And by The Schall Law Firm

The Schall Law Firm, a national shareholder rights litigation firm, is investigating claims on behalf of investors of Seagate Technology Holdings plc for violations of the securities laws.

The investigation focuses on whether the company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The manufacturer is the subject of a statement released by the Bureau of Industry and Security (BIS) on April 19, 2023. According to the statement, the company will pay a $300 million penalty to “resolve alleged violations of U.S. export controls relatd to selling HDDs to Huawei Technologies Co. Ltd. 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.”