Western Digital Corp
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Information Technology : Technology Hardware, Storage & Peripherals | Mid Cap Value
Company profile

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company's portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions). The Company develops and manufactures a portion of the recording heads and magnetic media used in its hard drive products.

Postmarket

Last Trade
Delayed
$44.90
0.02 (0.04%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$44.88
Day's Change
-0.97 (-2.12%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
46.54
Day's Low
44.74
Volume
(Heavy Day)
Volume:
4,834,076

10-day average volume:
3,896,748
4,834,076

STAA FINAL DEADLINE: Bronstein, Gewirtz & Grossman, LLC Reminds STAAR Surgical Company of Class Action and Encourages Shareholders to Contact the Firm

10:00 am ET October 19, 2020 (Globe Newswire) Print

Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against STAAR Surgical Company ("STAAR" or the "Company") (NASDAQ: STAA) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired STAAR securities between February 26, 2020 through August 10, 2020, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/staa.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading and/or failed to disclose that material adverse facts. Specifically the complaint alleges that defendants were overstating and/or mischaracterizing: (1) its sales and growth in China; (2) its marketing spend; (3) its research and development expenses; and that as a result of the foregoing, (4) Defendants' public statements were materially false and misleading at all relevant times.

On August 11, 2020, research firm J Capital published a report that called into question STAAR's representations with respect to its purported success in the Chinese market, accusing the Company of overstating its sales in China by at least one-third (or $21.6 million). Citing over 75 interviews with former employees, site visits to China and Switzerland, and an extensive review of public documents, the J Capital report asserted that STAAR has reported fake sales revenues by overstating sales and then marking up actual marketing costs to hide "phantom" revenue. On this news, STAAR's stock price fell $3.17 per share, or 6.16%, to close at $48.25 per share on August 11, 2020.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/staa or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in STAAR you have until October 19, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz

212-697-6484 | info@bgandg.com

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