On or around 06/17/2019 (Court's order of dismissal)
Filing Date: May 17, 2018
According to the Complaint, Symantec Corporation ("Symantec" or the "Company") provides cybersecurity solutions worldwide.
On May 17, 2018, Plaintiff's law firm filed a press release announcing the lawsuit. The lawsuit alleges that, throughout the Class Period, Defendants 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; (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 (“SEC”); and (3) as a result, Symantec’s public statements were materially false and misleading at all relevant times.
On August 23, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff. On October 4, the Court issued an Order approving Lead Plaintiff's selection of Counsel. Lead Plaintiff filed a consolidated Complaint on November 15. Defendants filed Motions to Dismiss the consolidated Complaint on December 26. On June 14, 2019, the Court issued an Order granting Defendants' Motions to Dismiss. Plaintiffs were given leave to amend the Complaint.
Company & Securities Information
Defendant: Symantec Corporation
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: SYMC
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
James Felix, et al. v. Symantec Corporation, et al.