Seagate Reaches $175 Million Investor Settlement on Huawei Sales

Seagate Technology Holdings Plc agreed to shell out $175 million to resolve allegations it hid from investors that selling hard disk drives to Huawei Technologies Co. flouted a federal ban on exports to the Chinese company.

The investors’ lead counsel will seek up to a quarter of that sum in attorneys’ fees and $1.3 million for litigation expenses, according to the May 29 motion seeking Judge Rita F. Lin‘s preliminary approval of the agreement. Sign-off by the US District Court for the Northern District of California would end nearly three years of litigation against Seagate, CEO Dave Mosley, ...