The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds
investors of the upcoming deadline to move for appointment as lead
plaintiff in the class
action litigation that has been filed on behalf of investors who
purchased or otherwise acquired the securities of Symantec Corporation
(“Symantec” or the “Company”) (Nasdaq: SYMC) between May 19, 2017 and
May 10, 2018, inclusive (the “Class Period”).
If you purchased or otherwise acquired Symantec securities during the
Class Period, you may move the Court for appointment as lead plaintiff
by no later than July 16, 2018. A lead plaintiff is a representative
party who acts on behalf of other class members in directing the
litigation. Your share of any recovery in the actions will not be
affected by your decision of whether to seek appointment as lead
plaintiff. You may retain Lieff Cabraser, or other attorneys, as your
counsel in the actions.
investors who wish to learn more about the litigation and how to seek
appointment as lead plaintiff should click here or contact Sharon M.
Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Symantec, incorporated in Delaware and headquartered in Mountain View,
California, provides cybersecurity solutions worldwide.
The action alleges that, during the Class Period, defendants Symantec,
its Chief Executive Officer Gregory S. Clark, and its Chief Financial
Officer Nicholas R. Noviello, 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; and (2)
Symantec’s “reporting of certain Non-GAAP measures including those that
could impact executive compensation programs” would provoke heightened
On May 10, 2018, after markets closed, the Company reported that it
would likely need to delay the filing of its annual report for the
fiscal year ended March 30, 2018 because its Audit Committee had begun
an internal investigation related to concerns raised by a former
employee. On this news, the price of Symantec shares fell $9.66 per
share, or 33.1% from the previous closing price of $29.18, to close at
$19.52 per share on May 11, 2018, on extremely heavy trading volume.
On May 14, 2018, after markets closed, Symantec disclosed details of the
investigation, which involves the “Company’s public disclosures
including commentary on historical financial results, its reporting of
certain Non-GAAP measures including those that could impact executive
compensation programs, certain forward-looking statements, stock trading
plans and retaliation.”
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco,
New York, Nashville, and Seattle, is a nationally recognized law firm
committed to advancing the rights of investors and promoting corporate
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for 15 years. In compiling the
list, the NLJ examines recent verdicts and settlements and looks
for firms “representing the best qualities of the plaintiffs’ bar and
that demonstrated unusual dedication and creativity.” Law360
selected Lieff Cabraser as one of the “Top 50 Law Firms Nationwide for
Litigation,” highlighting our firm’s “laser focus” and noting that Lieff
Cabraser routinely finds itself “facing off against some of the largest
and strongest defense law firms in the world.” The publication
separately named our firm one of five “2017 California Powerhouses,” the
only plaintiffs’ firm on the list. Best Lawyers and U.S. News
named Lieff Cabraser as a “Law Firm of the Year” from 2012 through 2016,
and the firm has received a number of other recent honors, awards, and
recognition, including the National Law Journal’s “Elite Trial
Lawyers,” Law360’s “Most Feared Plaintiffs’ Firms,” and Benchmark
Litigation’s “Top 10 Plaintiffs Firms in America.”
For more information about Lieff Cabraser and the firm’s representation
of investors, please visit http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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