A lawsuit was filed on behalf of investors in Symantec Corporation (NASDAQ: SYMC) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 05/29/2018 -- An investor, who purchased NASDAQ: SYMC shares, filed a lawsuit over alleged Securities Laws violations by Symantec Corporation
Investors who purchased shares of Symantec Corporation (NASDAQ: SYMC) have certain options and for certain investors are short and strict deadlines running. Deadline: July 16, 2018. NASDAQ: SYMC investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between May 20, 2017 and May 10, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Symantec's internal controls over financial reporting were materially weak and deficient, that 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 that 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, Symantec Corporation reported that its "Audit Committee of the Board of Directors has commenced an internal investigation in connection with concerns raised by a former employee." Symantec Corporation disclosed that it voluntarily contacted the Securities and Exchange Commission ("SEC") to advise it of the internal investigation. Symantec Corporation further reported that it "is 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." Shares of Symantec Corporation (NASDAQ: SYMC) declined to as low as $18.85 per share on May 11, 2018.
Those who purchased shares of Symantec Corporation (NASDAQ: SYMC) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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