To join this class action, please complete the following Investor Certification.
Symantec Corporation [NASDAQ: SYMC] Investor Certification
Oklahoma City, OK (May 18, 2018) – On May 17, 2018, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against Symantec Corporation (NASDAQ: SYMC). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is May 20, 2017 through May 10, 2018. More specifically, the Complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Symantec Corporation’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; and (3) as a result, Symantec’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On May 10, 2018, after the market closed, Symantec disclosed that its Audit Committee had commenced an investigation “in connection with concerns raised by a former employee” and that the Company had contacted the Securities and Exchange Commission (“SEC”) to advise the SEC of the investigation. The Company further disclosed that it was “unlikely that the investigation will be completed in time for the Company to file its annual report on Form 10-K for the fiscal year ended March 30, 2018 in a timely manner.”
On this news, Symantec’s share price fell more than 33% to close at $19.52 per share on May 11, 2018, thereby injuring investors.
Plaintiff seeks to recover damages on behalf of all Symantec Corporation shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, July 16, 2018 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact: Robin Hester at email@example.com