The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Symantec Corp. (NASDAQ: SYMC) who purchased shares between May 20, 2017 and May 10, 2018. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the SYMC lawsuit alleges that (1) Symantec's internal controls over financial reporting were materially weak and deficient; (2) Symantec later disclosed "reporting of certain Non-GAAP measures including those that could impact executive compensation programs" would lead to heightened regulatory scrutiny by the SEC; and (3) as a result, Symantec's public statements were materially false and misleading at all relevant times. On May 10, 2018, Symantec announced the commencement of an internal investigation “in connection with concerns raised by a former employee.”
Shareholders have until July 16, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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