NEW YORK, May 18, 2018 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Symantec Corporation (“Symantec” or the “Company”) (Nasdaq:SYMC) in the United States District Court for the Northern District of California on behalf of a class consisting of investors who purchased or otherwise acquired Symantec securities on the open market from May 20, 2017 through May 10, 2018, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.
The Complaint alleges that 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the July 16, 2018 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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