Seagate Technology $175M Securities Class Action Settlement

William C. Gendron

Editor in Chief

Published

August 4, 2026 10:40 AM

Updated

August 4, 2026

Who can file a claim?

The settlement class includes all persons and entities who purchased or otherwise acquired Seagate Technology Holdings plc common stock between Sept. 14, 2020, and April 19, 2023, inclusive, and suffered damages.

Additional details

Both individuals and entities can be class members.
The settlement includes investors who held stock in their own name and those who held through a broker or other nominee.
The beneficial owner, not the record owner, must sign the claim form.
Joint owners must each sign the claim form.
Agents, executors, administrators, guardians and trustees may submit claims on behalf of others and must provide proof of authority.
Each separate legal entity or separately managed account must submit a separate claim.

How much can class members get?

The total settlement fund is $175,000,000. The amount each class member will receive depends on several factors:

The number of valid claims submitted
The number of shares purchased or acquired during the class period
The timing and price of each purchase and sale
The total recognized claims of all claimants

The settlement administrator will distribute payments on a pro rata basis according to the court-approved plan of allocation:

The estimated average distribution is about $1.03 per eligible share before deductions for attorneys' fees and expenses, taxes and administration costs. After estimated deductions of about $0.26 per share, the estimated average recovery is about $0.77 per share.
Actual payments may be higher or lower depending on individual claims and the total number of valid claims.
The settlement administrator will calculate each class member's payment based on the recognized loss amount assigned to each purchase.
Recognized loss amounts depend mainly on the alleged artificial inflation in the stock price on the purchase date and sale date, listed by date in Table A (page 11 of the settlement notice).

For shares sold before the close of trading on March 7, 2022, the recognized loss is $0.
For shares sold between March 8, 2022, and the close of trading on April 19, 2023, the recognized loss is the lesser of the artificial inflation on the purchase date minus the artificial inflation on the sale date or the purchase price minus the sale price.
For shares sold between April 20, 2023, and the close of trading on July 18, 2023, the recognized loss is the least of the artificial inflation on the purchase date, the purchase price minus the average closing price from April 20, 2023, through the sale date (pages 11-12 of the settlement notice) or the purchase price minus the sale price.
For shares held as of the close of trading on July 18, 2023, the recognized loss is the lesser of the artificial inflation on the purchase date, or the purchase price minus $60.30, the average closing price during the 90-day look-back period.

The settlement administrator will match purchases and sales on a first-in, first-out basis.
Claimants who gained money overall on their class period transactions will have a recognized claim of $0.
Claimants who lost less overall than their calculated recognized claim will have that claim limited to the amount they lost.
The settlement administrator will set any recognized loss that calculates to zero or a negative number to $0.
Each claimant's payment equals their recognized claim divided by the total recognized claims of all claimants multiplied by the net settlement fund.
Class members whose payment would be less than $10 will not receive a payout.

How to claim a Seagate securities class action settlement payment

Class members may file a claim online or download, print and complete the PDF claim form and mail it to the settlement administrator. The claim deadline is Oct. 19, 2026.

Settlement administrator's mailing address: Seagate Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson St., Suite 205, Media, PA 19063

Proof or documentation required to submit a claim

All class members must provide the last four digits of their Social Security number or taxpayer identification number. They must also provide holdings and transaction information, including:

Number of shares held as of the opening of trading on Sept. 14, 2020
Trade dates for purchases and sales through July 18, 2023
Number of shares purchased, acquired or sold
Price per share and total purchase or sale price
Number of shares held as of the close of trading on July 18, 2023

Class members must also provide documentation to support their holdings and transactions in Seagate common stock. Acceptable proof includes:

Trade confirmations
Account statements
Authorized statements from a broker or other financial institution containing the transactional and holding information found in a trade confirmation or account statement

Payout options

Physical check

$175 million settlement fund

The $175,000,000 settlement fund includes:

Settlement administration costs: Estimated at $679,000
Attorneys' fees: Up to $43,750,000
Attorneys' expenses: Up to $1,300,000
Service awards to class representatives: Up to $75,000 total
Payments to eligible class members: Remainder of the fund

Important dates

Deadline to file a claim: Oct. 19, 2026
Opt-out deadline: Oct. 27, 2026
Fairness hearing: Nov. 17, 2026

When is the Seagate securities class action settlement payout date?

The settlement administrator will issue payments after it processes all claims and the court resolves any appeals and grants final approval of the settlement.

Why did this class action settlement happen?

The class action lawsuit alleged Seagate and certain executives misled investors by concealing the magnitude of the company's sales to Huawei, a proscribed foreign entity, in violation of U.S. export laws. The plaintiffs claimed Seagate's profitability was largely based on those illegal sales.

The defendants denied all allegations of wrongdoing but agreed to settle to avoid the costs, risks and delays of continued litigation.