Symantec Investors Get Class Certified In Stock Drop Suit

Symantec Corp. investors can pursue as a class accusations that the company misled them about its financial performance after two 2016 acquisitions, leading to a stock drop, a California federal district judge ruled.

The software company’s investors successfully demonstrated that questions of law or fact common to the proposed class members predominate over those affecting only individual members, the U.S. District Court for the Northern District of California said May 8.

Symantec allegedly manipulated its financial reports to make its performance look better after it acquired Blue Coat Systems Inc. and Lifelock Inc. The company changed its name to NortonLifeLock ...