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Felix v. Symantec Corporation et al

  1. May 04, 2023

    $12M Chancery Class Deal Ends Cross-Country Litigation Duel

    A $12 million deal to end a stockholder derivative suit focused on past inflating of cybersecurity company Gen Digital Inc.'s revenues won Delaware Court of Chancery approval Thursday under rulings that also bar a competing federal securities derivative claim in California from going forward.

  2. April 14, 2023

    Calif., Del. Symantec Derivative Suit Teams Clash In Chancery

    A feud between federal and Delaware stockholder attorneys over competing derivative suits targeting fallout from Symantec Inc. accounting practices that allegedly put "ghost revenue" on its books sidelined a ruling Friday on a $12 million Chancery Court settlement of the claims.

  3. January 05, 2023

    Symantec Successor, Execs Pay $12M To End Derivative Suit

    Gen Digital Inc., formerly Symantec Corp., and its top brass have cut a $12 million deal to settle a derivative shareholder lawsuit alleging the cybersecurity company illegally put hundreds of millions of dollars in "ghost revenue" on its books to protect executive pay, according to a Delaware Chancery Court filing Wednesday.

  4. September 09, 2021

    Alsup Conditionally OKs NortonLifeLock Investors' $70M Deal

    U.S. District Judge William Alsup said Thursday that NortonLifeLock investors' $70 million cash settlement resolving class claims that the cybersecurity company and its board reported false quarterly revenues to protect executive bonuses is reasonable, but the judge said the notice and claim form must be rewritten so an "ordinary mortal" understands them.

  5. July 07, 2021

    Symantec Investors Want Alsup To OK $70M Settlement

    Symantec Corp. investors asked U.S. District Judge William Alsup on Tuesday to bless the $70 million deal they reached resolving class claims that the cybersecurity company behind Norton Antivirus and its board reported false quarterly revenues to protect executive bonuses.

  6. April 21, 2021

    Alsup Scolds Bernstein Litowitz Over Symantec 'Spectacle'

    Bernstein Litowitz should have avoided the "spectacle" of hiring the former deputy CEO of its own client in the midst of a massive investor class action against Symantec Corp., U.S. District Judge William Alsup said Tuesday.

  7. February 10, 2021

    Bernstein Litowitz Says Hiring Ex-Client Poses No Conflict

    Bernstein Litowitz Berger & Grossmann LLP on Wednesday told a California federal judge that hiring the former deputy CEO of its own client in the midst of a massive investor class action against Symantec Corp. was completely above board, slamming Robbins Geller Rudman & Dowd LLP for seeking "revenge."

  8. December 03, 2020

    Robbins Geller Says Bernstein Litowitz Hire May Pose Conflict

    Robbins Geller Rudman & Dowd LLP has raised concerns that Bernstein Litowitz Berger & Grossmann LLP hired the former deputy CEO of its own client, the lead plaintiff in a massive investor class action against Symantec Corp., and then failed to disclose that potential conflict of interest to a California federal judge.

  9. May 11, 2020

    Bernstein Litowitz To Lead Certified Symantec Investor Class

    A California federal judge has granted class certification and named Bernstein Litowitz Berger & Grossmann LLP lead counsel in a lawsuit brought by Symantec Corp. investors accusing the cybersecurity software company and its board of reporting false quarterly revenues to protect executives' bonuses.

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