The proposed $175,000,000 settlement covers investors who bought or acquired Seagate Technology common stock from September 14, 2020 through April 19, 2023. Eligible class members who submit valid, documented claims share the fund pro rata, an estimated $1.03 per share. The court has not yet approved it.
Benefit Summary
Settlement Class Members: People and entities that purchased or otherwise acquired Seagate common stock from September 14, 2020 through April 19, 2023, inclusive, and were allegedly damaged. Excluded are current or former Seagate officers or directors; their immediate family members; their legal representatives, heirs, or assigns; people who owned stock solely through a mutual fund during the period; people who sold but did not purchase or acquire stock during the period; and the presiding judge, the judge’s staff, and their immediate family members.
Eligible claimants may receive a pro rata share of the Net Settlement Fund based on their Recognized Claim under the Court-approved Plan of Allocation. The notice estimates an average of $1.03 per eligible share before deductions for taxes, notice and administration costs, and Court-approved attorneys’ fees and expenses. You must submit a timely valid Claim Form with adequate transaction documentation. Shares generally must have been held through at least one listed corrective disclosure to have a Recognized Loss. A claimant with an overall Market Gain receives no payment, and no distribution is made when the calculated amount is less than $10. Payments depend on Court approval and the resolution of appeals.
Court-approved attorneys’ fees, litigation expenses, notice and administration costs, taxes, and other Court-approved expenses are deducted before the Net Settlement Fund is distributed. Payments are made only if the Court approves the settlement and appeals are resolved.
Available Awards
Pro rata payment
Who Is Included
People and entities that purchased or otherwise acquired Seagate common stock from September 14, 2020 through April 19, 2023, inclusive, and were allegedly damaged, subject to the exclusions stated in the notice.
- Products included: Seagate Technology Holdings plc common stock
- Purchase window: September 14, 2020 through April 19, 2023, inclusive
- Proof required: A completed Claim Form and adequate supporting documentation. The notice says to retain records of ownership of and transactions in Seagate common stock because they may be needed to document the claim.
Claim and Payment Information
- Claim method: Online submission or mail
- Claim deadline: 2026-10-19
- Instructions: Submit a completed claim with supporting trading records online by 11:59 p.m. Pacific Time on October 19, 2026, or mail it postmarked by October 19. Follow the claim form for all required transaction and ownership information.
Questions & Answers
How does the proposed plan decide whether my shares have a recognized loss?
- Buying or otherwise acquiring Seagate common stock during the class period is not enough by itself for a recognized loss under the proposed allocation plan. The shares must also have been held through at least one of these corrective-disclosure dates: March 8, 2022; July 22, 2022; October 26, 2022; or April 20, 2023.
- Shares sold before the close of trading on March 7, 2022 have a recognized loss of $0 under the proposed plan.
- For other eligible transactions, the calculation uses the purchase date, sale or holding date, alleged artificial inflation amounts, and in some cases the 90-day average-price limits. The calculation is used to determine each accepted claimant's relative share of the Net Settlement Fund; it is not a promised payment amount.
What other calculation rules could reduce or eliminate a payment?
- The Claims Administrator matches transactions using first in, first out (FIFO). Sales during the class period are first matched to stock held at the beginning of the class period, then to later purchases in date order.
- The Administrator also looks at the overall result of your class-period Seagate stock transactions. An overall Market Gain means a Recognized Claim of $0. If the overall Market Loss is smaller than the calculated Recognized Claim, the claim is reduced to the Market Loss.
- No payment is sent if an Authorized Claimant's calculated distribution is under $10.
How are options and short sales treated?
- Option contracts themselves are not eligible for a settlement payment.
- If common stock was bought or sold by exercising an option, the plan treats the exercise date as the stock purchase or sale date and the option exercise price as the stock purchase or sale price.
- Short sales and the purchases used to cover them have a recognized loss of $0. An opening short position must be covered before later class-period purchases can qualify for recovery.
What changes if I opt out or do nothing?
- You may leave the settlement by opting out. If you do, you cannot receive a settlement payment or object, but you are not bound by this case and keep the ability to bring or join another case against the defendants about these issues.
- To opt out, use the online Opt-Out Form or send a signed exclusion request that includes your contact information and your Seagate holdings and transactions requested by the notice. The request must be received by October 27, 2026.
- If you stay in the settlement but do nothing, you receive no payment and remain bound by the settlement and its release of claims if approved.
How can I object without giving up a possible payment?
- If you remain in the Settlement Class, you can object to the settlement, proposed allocation plan, or requested attorneys' fees and expenses. You can still submit a claim while objecting.
- A written objection must explain the reasons for the objection and say whether it concerns only you, part of the class, or the whole class. The notice also requests identifying and contact information, a signature, and whether you or a lawyer plan to attend the hearing.
- An objector should provide documents showing class membership and transaction details. Without them, the parties may challenge whether the person is a class member.
- Submit an objection online, file it with the Court, or mail it as directed in the notice by October 27, 2026 (the notice permits that date as the postmark for mail). Read the objection and hearing sections for the full filing requirements, including additional information if you plan to speak.
When could payments be sent, and could there be a later payment?
- The notice does not provide a calendar date for payments.
- Payment can occur only if the Court approves the settlement. The notice also says payments will be made after appeals are resolved.
- After an initial distribution, uncashed funds may be redistributed at least six months later if Lead Counsel and the Claims Administrator decide another distribution is cost-effective. Only people who cashed their earlier distribution checks and would receive at least $10 from the redistribution may receive it.
How and when must I submit my claim?
Submit your completed claim and supporting trading records online by 11:59 p.m. Pacific Time on October 19, 2026, or mail them with a postmark no later than October 19. Mail claims to Seagate Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 205, Media, PA 19063. Follow the claim form for all required ownership and transaction information. For help, call 866-426-2293 or email [email protected].
Other Important Dates
- Exclusion deadline: 2026-10-27
- Objection deadline: 2026-10-27
- Final approval hearing: November 17, 2026, at 10:00 a.m. Pacific Time
- Hearing location: Courtroom 4, 17th Floor, United States District Court for the Northern District of California, Phillip Burton Federal Building, 450 Golden Gate Avenue, San Francisco, CA 94102. The notice also states that class members may observe and participate by Zoom videoconference, subject to the notice's terms.
Case Details
- Total settlement fund: $175,000,000
- Case name: In re Seagate Technology Holdings plc Securities Litigation
- Case number: 3:23-cv-03431-RFL (N.D. Cal.)
- Court: United States District Court for the Northern District of California
- Administrator: Strategic Claims Services
- Official Settlement Website: https://www.SeagateSecuritiesLitigation.com
Sources
Claim form, FAQ, deadlines, administrator information
Court-approved notice describing eligibility and benefits