WeissLaw LLP: Symantec Corporation is the Subject of a Legal Investigation

NEW YORK, May 31, 2018 /PRNewswire/ -- WeissLaw LLP, a national class action, shareholder rights law firm with offices in New York, Los Angeles, and Atlanta, announces an investigation of Symantec Corporation (the "Company" or "SYMC") (NASDAQ: SYMC).  The investigation focuses on possible breaches of fiduciary duty and violations of federal securities laws.

On May 10, 2018, after the market closed, the Company filed with the SEC a Form 8-K disclosing that its Audit Committee hired independent advisers to investigate "concerns raised by a former employee."  SYMC further disclosed that as a result of the ongoing investigation, it was "unlikely [] for the Company to file its annual report on Form 10-K for fiscal year ended March 30, 2018 in a timely manner."  On that news, SYMC shares nose-dived, trading for as low as $18.85, or nearly 36% less than the previous day's trading high of $29.20.  Additionally, according to FactSet, at least 15 analysts cut their SYMC price targets, with one analyst predicting that the investigation may result in further restatement from the Company.

WeissLaw is investigating whether SYMC's Board breached its fiduciary duties to the Company by failing to ensure that an adequate system of internal controls was maintained over the Company's operations and public reporting.   If you own SYMC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact Joshua Rubin of WeissLaw LLP at (888)593-4771, or by e-mail at stockinfo@weisslawllp.com. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/symantec-corporation/

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SOURCE WeissLaw LLP