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Symantec Corporation (NASDAQ:SYMC) Investor Files Lawsuit Over Alleged Breaches Of Fiduciary Duties

  • If you are a current long-term stockholder of shares of Symantec Corporation (NASDAQ:SYMC), you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Symantec Corporation
Security
NASDAQ: SYMC

Case Name
Symantec Shareholder Derivative Lawsuit 04/19/2013
Type of Lawsuit
Stockholder Derivative Action
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Summary

April 22, 2013 (Shareholders Foundation) - An investor who currently holds NASDAQ:SYMC shares filed a lawsuit against directors of Symantec Corporation over alleged breaches of fiduciary duties that could lead to millions of dollars in potential liability for Symantec Corporation.
The plaintiff alleges that defendants allegedly exposed the company to potentially hundreds of millions of dollars in potential liability for violations of law by overcharging the federal government on over $200 million in sales.

Symantec Corporation (NASDAQ:SYMC) reported that its Total Revenue rose from $6.19 billion for the 52 weeks period that neded on April 1, 2011 to $6.73 billion for the 52 weeks period that ended on March 30, 2012 and that its respective Net Incoem increased from $597 million to over $1.172 billion.

Shares of Symantec Corporation (NASDAQ:SYMC) grew from $13.46 per share in July 2012 to as high as $24.73 per share in March 2013.

On April 22, 2013, NASDAQ:SYMC shares closed at $23.67 per share.